Lacroix crisis deepens

By Jess Wood  on Monday 6 July 2009

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It's Lacroix sweetie, Lacroix! But maybe not for much longer... Yes, the bad news emanating from Ab Fab Edina's favourite label has just got worse, according to WWD.

The French fashion house - known for its fabulously colourful couture - has been hit hard by the economic downturn and has just told its employees that a new restructuring plan could see the company workforce slashed from 124 to just 12.

Founded by flamboyant Frenchman Christian Lacroix 22 years ago, the label announced it was in a cash flow crisis in May and has been struggling to keep creditors at bay since then.

The only chance of a reprieve would be if the company finds a new buyer. And believe us, if we hadn't just blown all our cash on those Balenciaga sandals, we'd be first in line. After all, who else has such a way with frills? Sob...

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Monday 6 July 2009

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