Sonia Rykiel Enters Receivership
Sonia Rykiel has entered receivership as owner First Heritage Brands seeks a buyer to take over the struggling fashion house. A French commercial court on Tuesday placed the company into administration until June while it examines the offers for the brand. First Heritage Brands had mandated investment bank Rothschild in January to seek a partner or outright buyer for the brand, which it acquired in 2012. The label, which recently parted ways with its creative director Julie de Libran, logged sales of 35 million euros in 2018, with a loss of 20 million euros excluding its investment of 10 million euros in events marking the house’s 50th anniversary, according to sources with knowledge of the matter.Follow WWD on Twitter or become a fan on Facebook.
from WWDWWD http://bit.ly/2VEogfZ
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