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Bidders vie for Lacroix firm

July 28, 2009|Associated Press

The floundering French fashion house Christian Lacroix, which has launched insolvency proceedings, has received three takeover offers -- the most serious being the Italian Borletti group, a judicial administrator said Monday.

The offers, which also include a French management consultancy, will be examined before Paris' commercial court in September.

Monday was the last day to file offers for the company, noted for the elaborate designs and bright colors of the famed designer's native Arles. Christian Lacroix employs 125 people and in its 22 years of existence moved to the fore of the high fashion scene.

Lacroix has blamed the global economic downturn for doing him in financially, saying the luxury domain was significantly affected. The designer launched insolvency proceedings in late May and is expected to close the door this week.

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