Christian Lacroix to be saved

The news circulating the fashion dailies and online press is that French fashion house Christian Lacroix may be rescued from bankruptcy. The couture-led luxury label, which entered administration last month is rumoured to have received a bail-out bid by restructuring firm Bernard Krief Consultants, cited Vogue.com on Tuesday.

Christian Lacroix showed a reduced collection at Paris Couture Week earlier this month and - if the buy-out fails - Lacroix's owner, Falic Group, could initiate a dramatic restructuring plan which could see the workforce of 124 artisans slashed to just 12, Drapers Online reports.

Bernard Krief Consultants - who attempted to purchase French fashion group Morgan when it entered administration - is expected to table its formal bid for Lacroix in a week's time.