Fashion house Lacroix gets creditor protection

PARIS, June 2 (Reuters) - Loss-making French fashion house Christian Lacroix has been placed under creditor protection for a period of six months, a company official said on Tuesday.

A Paris Tribunal took the decision on Monday to seek a legal restructuring of the group, which requested the move last week after being hard hit by the global downturn in consumer spending.

Christian Lacroix, known for its colourful baroque-style dresses, moved into upmarket ready-to-wear just as demand for luxury fashion was weakening and has suffered from a severe drop in U.S. department store sales, on which it relied heavily.

The company, which has never made a profit since it was founded 22 years ago, belongs to the Falic family, owner of U.S. retail group Duty Free Americas.

The Falics, who acquired the fashion house from luxury group LVMH (LVMH.PA) in 2005, have been seeking a partner or buyer for Christian Lacroix for more than a year but have failed to strike a deal.

"This process, which was in its final phase, has also been hit by the financial crisis and could not be concluded within the necessary deadlines," Christian Lacroix Chief Executive Nicolas Topiol said in a statement.

"The company hopes to complete the (legal) procedures quickly and continue to develop the brand."

In 2008, Christian Lacroix made a loss of 10 million euros ($14.2 million) on revenue of 30 million. Orders for its 2009 women's ready-to-wear summer collection are down 35 percent, it said. (Reporting by Pascale Denis; Editing by David Holmes) ($1=.7207 euros)