Sonia Rykiel, a French fashion house known for its colorful striped knits, has gone into receivership as owner First Heritage Brands seeks a buyer to take over the struggling business.
A French commercial court on Tuesday placed the company into administration until June while it examines offers. First Heritage Brands had mandated investment bank Compagnie Financière Edmond de Rothschild in January to seek an investor or outright buyer for the brand, which it acquired in 2012.
A spokesman for Rykiel confirmed the court ruling but declined further comment.
Watch the highlights of the 2018 FNAAs.
Sonia Rykiel Just Showed on a Parisian Street Named After the House’s Iconic Founder
Sonia Rykiel Celebrates Its 50th Anniversary Show With an ’80s Dance Party