DALLAS, Jul 27, 2009 / FW/ — It looks like Christian Lacroix is going to get a miracle. The judicial administrator assigned to the case had indicated that the bid from the Italian group Borletti, associated with the Rinascente department store group is “serious” enough to be considered.
Operating mainly in Luxembourg, Milan, Paris and Frankfurt, the Borletti Group has led acquisitions for a total enterprise value of over 6 billion euros over the last four years, one of the acquisitions being the French department store, Printemps from PPR in 2006.
There are other bids though. One is from Bernard Krief Consulting, which was deemed as “insufficient.”
A commercial court will consider the bids and is expected to make a ruling on the future of the company in September.