Sonia Rykiel to enter receivership
Sonia Rykiel has entered receivership, a process in which a legal custodian is appointed to control a company's assets because it has no money. The label's owners, French Heritage brands, is currently seeking a buyer.
WWD reports that a French commercial court has placed the fashion house into administration until June while it examines offers for the brand.
Read the full article on Harper's Bazaar.