By  on October 14, 2009

PARIS — Angelo Tarlazzi is the latest fashion house here to file for the equivalent of Chapter 11 bankruptcy protection.

Private equity fund Xaap Finance, which took a 67 percent stake in Tarlazzi last year with plans to accelerate growth, recently put the brakes on financing.

Bruno Degeorges, chief executive officer at Tarlazzi, said the company is in talks with a potential new investor looking to inject 3 million to 5 million euros, or $4.4 million to $7.3 million at current exchange rates.

“It is very important that we have someone of quality for the company,” said Degeorges.

The Italian-born Tarlazzi launched his label in 1978 after stints as creative director at Jean Patou and Guy Laroche. In its heyday, Tarlazzi’s firm generated revenues of around 40 million euros, or $44 million.

The brand is still sold in about 50 U.S. doors, including Neiman Marcus, and it recently presented a spring 2010 collection.

“We are still here. That shows resistance to the market,” Degeorges asserted.

A French court is to decide on the firm’s fate Nov. 5.

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus