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Bankruptcy

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The fashion house of French couturier Christian Lacroix has filed for bankruptcy, reports the Times. Fashion critic Suzy Menkes is crushed by the news. "The loss of Christian Lacroix to Paris haute couture is immeasurable. Although the designer hopes to hold a small presentation during the July couture season, this was the last house established under the formal couture rules. Even a restructuring would likely have severe implications on his 125-member staff." The company lost $14 million in 2008. [NYT]