Christian LaCroix AW09
Christian LaCroix has filed for voluntary bankrupcy, according to new reports.
The fashion house have reportedly fallen foul of the credit crunch and are now seeking court protection from its creditors, reports WWD.
A sign of the times perhaps, that luxury and extravagant fashion is no longer at the forefront of people's minds, despite the 22-year-old company becoming popularised on shows like Absolutely Fabulous in the 90s.
The company was bought by the Falic Group in 2005, and the collapse is thought to have occured because of the downturn in the luxury goods market.
However, CEO Nicolas Topiol did confirm to WWD that they will show as normal during Couture Week in July: "We have a very dedicated group of clients. The perception of the brand and its power is very strong. It's the key to future development."