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Sonia Rykiel fashion brand collapses

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Sonia Rykiel fashion brand collapses

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Sonia Rykiel, the French fashion house, has gone into liquidation after a commercial court judge in Paris rejected the only remaining bid for the company, from a Paris-based family firm operating in the property and medical sectors, Lévy, The lone bidder planned to close the flagship store in Paris on blvd. Saint-Germain.

The business will liquidate operations effective immediately and the company’s website is already ‘temporarily unavailable.’ The brand has six remaining retail outlets, five in France and a shop at One Monte-Carlo. Sonia Rykiel has 134 employees.

Sonia Rykiel, who died two years ago aged 86, was best known for her striped knitwear, made famous by film star Audrey Hepburn.

Hong Kong billionaires Victor and William Fung and an investment fund relaunched the brand with new investment seven years ago, but the business continued in the red. The brand went into receivership in April and closed outlets in New York and London.

PHOTO: soniarykiel.com

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