The New York Times reports: Lacroix Files for Bankruptcy Protection.
Christian Lacroix, the French couturier whose artistic and exuberant pouf dresses propelled him to fame in the 1980s, became the latest victim of the global financial crisis Thursday as the U.S.-owned fashion house bearing his name filed for court protection from creditors.
Although Lacroix’s chief executive officer, Nicolas Topiol, emphasized that the brand intended to continue operating during the process, the news brings an end to a luxury business model for which Lacroix was the last of the Mohicans.
Très passé.
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