A sheikh from the United Arab Emirates is likely to take over Christian Lacroix, the loss-making French fashion house, tomorrow when his 100 million (£92 million) rescue deal goes before the Paris Commercial Court.
A sheikh from the United Arab Emirates is likely to take over Christian Lacroix, the loss-making French fashion house, tomorrow when his €100 million (£92 million) rescue deal goes before the Paris Commercial Court.
Sheikh Hassan bin Ali al-Nuaimi, a nephew of the ruler of Ajman, the smallest member of the UAE, has emerged as a clear favourite to become owner of the designer.
Lacroix’s house went into administration in May after filing for protection from creditors as the global crisis hit its already weak finances.
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Rival offers have been submitted by Bernard Krief Consulting, of France, and the Financière Saint-Germain, a holding company that owns Daum and Lalique, the crystalware makers.
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