According to reports, turnaround investment group Bernard Krief Consultants plans to make a bid next week for cash-strapped French fashion designer Christian Lacroix, which was placed under bankruptcy protection last month.
“Haute couture is part of the cultural heritage and we think that Christian Lacroix is the greatest contemporary designer," Louis Petiet, head of Bernard Krief Consulting, told Reuters.
Owned by the Falic family, which operates the U.S. retail group Duty Free Americas, the Christian Lacroix brand has never made a profit in its 22 years of existence.
Bernard Krief Consulting has sought to buy other distressed businesses during the recession, including car parts company Heuliez, textile group DMC and the French young fashion chain Morgan. The consulting firm is believed to be the only bidder for the Lacroix company.