The news broke today that the sale of the Christian Lacroix label to Ajman sheikh Hassan Bin Ali al-Nuaimi has been delayed. Reports came out as late as last week saying that Nuaimi wanted to finalize the plans of the sale by the end of this month. Nuaimi's offer of $100 million promises to keep jobs, pay off
bills and even evolve the label into a full scale lifestyles brand including the production of homegoods and yachts. Both Lacroix himself and administrators involved seemed to be on board and in full support of the proposed investment plan. But now, the French tribunal in charge of overseeing the sale has decided to put
off their hearings on the matter until November 17, citing procedural
delays. Officials of the board are citing the need to finalize an "economic recovery plan" before approving the deal. However, according to the Associated Foreign Press, they are claiming all proceedings should continue as planned following the delay. Keep those fingers crossed that all will turn out well for Lacroix!
Article Source: AFP
Photo Source: NY Mag