Sonia Rykiel has filed for bankruptcy protection in France. Business of Fashion reports that the brand has been placed into receivership until June as it searches for a new owner. First Heritage Brands, its current owner, bought the brand in 2017. WWD says it hired Compagnie Financière Edmond de Rothschild to find new investors in January.
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The past two months have been turbulent for Sonia Rykiel. In March, creative director Julie de Libran abruptly left the house. First Heritage claims that her exit was due to a dispute over personal expenses and that she resigned. But de Libran claims that she didn’t resign, and that she was forced out over a contractual dispute. Meanwhile, Business of Fashion reports that earlier this month the company filed for Chapter 7 bankruptcy in the United States and shut down stores in New York.