Don't count fashion brand Christian Lacroix out yet. Lacroix was placed under bankruptcy protection in June. The brand has never been profitable but,
as the Wall Street Journal reports, the creative, inventive, distinctly French brand is considered a cultural treasure in France. Italy's Borletti Group has bid along with Christian Lacroix, the co-founder and designer (shown above, at right, with French Industry Minister Christian Estrosi) to take control of the brand and perhaps save it from being closed down. There were four bids total for the fashion house and the winner will be announced by the administrator in September. Meanwhile Christian Lacroix's 125 workers have been asked to take the month of August off and if a buyer isn't found 112 workers could lose their jobs. Christian Lacroix is currently owned by the Falic group which bought the brand from LVMH in 2005. Last year it reported a €10 million loss ($14.2 million) on €30 million in sales.
