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.
This story was reported by WWD and originally appeared on WWD.com. To read the full story, please go to WWD.com.
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