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Sonia Rykiel Seeks Bankruptcy Protection

Sonia Rykiel Seeks Bankruptcy Protection

Struggling French fashion house Sonia Rykiel has been placed into receivership, or the French equivalent of Chapter 11 bankruptcy protection in the United States.

By Luxus Plus

A commercial court granted the brand’s request for protection until the end of June this year, while it looks for a new owner. The news follows that of Sonia Rykiel which filed for Chapter 7 bankruptcy in the United States in April, and shut down several of its stores, including those in New York and London.

First Heritage Brands, a Hong Kong investment group, which in 2012 bought a majority stake in Sonia Rykiel and acquired it outright in 2017, is looking for new investors to take control of the label, which has undergone a behind-the-scenes makeover since its 2014 relaunch. First Heritage Brands has contracted Rothschild to handle the transaction.

By Luxus Plus

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