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French court postpones Lacroix ruling to Dec. 1
November 17, 2009 / 7:43 PM / 8 years ago

French court postpones Lacroix ruling to Dec. 1

PARIS, Nov 17 (Reuters) - The Paris Commerce Court has postponed a decision on the future of troubled French fashion house Christian Lacroix to Dec. 1, the administrator for Lacroix said on Tuesday.

This was because the main potential buyers for the fashion house, Gulf investor Hassan bin Ali al-Nuaimi, and France’s Bernard Krief Consulting, “could not show the documentation certifying the funds needed for the acquisition were available,” Regis Valliot said.

If by the Dec. 1 deadline the candidates could not show that documentation, the restructuring plan submitted by the Falic family, which owns Christian Lacroix, would be implemented, he added.

The fashion house, known for its colorful baroque-style dresses, filed for creditor protection in May after it was hit hard by a global collapse in consumer spending. The company has never made a profit in 22 years of trading. [ID:nLS947835]

In 2008, the company lost 10 million euros on revenue of 30 million euros.

Christian Lacroix was once part of French luxury goods group LVMH (LVMH.PA) but now belongs to the Falic family, which owns U.S. retail group Duty Free Americas. (Reporting by Pascale Denis, editing by Gerald E. McCormick)

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