By  on December 31, 2008

PARIS — French women’s fast-fashion company Morgan has gone into administration.

This is due to the impact of the financial crisis and the bankruptcy of the company’s U.K. distributor in April, according to a spokesman for the firm.

Morgan’s 2008 sales are estimated at 140 million euros, or $197.5 million at current exchange, down 9 percent from last year, the company said. Its debt weighs in at an approximately 30 million euros, or $42.3 million.

The company — which is about 40 percent owned by Apax Partners, 40 percent by its founding two families (Bismuth and Barouch) and 20 percent by investors — was put on the block at the beginning of this year and remains for sale.

Morgan has more than 1,000 employees in Europe, some 750 of which are in France. Its clothing is distributed in more than 50 countries through 500 boutiques under the Morgan banner, as well as 530 multibrand stores.

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