The French designer was synonymous with striped sweaters and Left Bank insouciance.
The music star had launched the collection last February during New York Fashion Week.
Cuts may be coming to Condé Nast.
Incoming president Mario Grauso will assume the chief merchant role.
The company said sales dropped in the oil belt region.
The Japanese fast-fashion chain, owned by Fast Retailing Co. Ltd., will enter its 18th geographic market this fall.
Inventories are being kept tight in hope of increasing full-price selling and reducing markdowns.
A decision from a Manhattan bankruptcy court judge is expected later this week.