EUROFLASH

Byline:

DOWN AND OUT IN LONDON: Flyte Ostell has joined the many young designers who are bailing out of the upcoming London Fashion Week. The design duo of Ellis Flyte and Richard Ostell will not stage a show this season in order to focus on their growing design consultancy business, they said. The team will show a 20-piece fall-winter capsule collection in April but only to their existing customers.

JUDGE BARS BIDERMANN: A federal court judge in New York on Wednesday barred Maurice Bidermann, chairman of Bidermann International, from completing a restructuring plan for the firm’s European operations because it might dilute Maurice’s stake. In October, the judge forbade any dilution after Rexnord Holdings, which holds a $13 million judgment against Maurice Bidermann, claimed a previous restructuring effort’s diluting effect on the executive’s shares would put its judgment in danger. The current deal, which has the support of Bidermann International’s bank and institutional lenders, called for Lucien Deveaux, a Paris apparel manufacturer, and Sylvain Jama, a wholesaler, to provide the firm with a $33 million cash infusion in exchange for equity. Maurice Bidermann claims his apparel manufacturing conglomerate could be forced into bankruptcy if it was not restructured.

TURNING JAPANESE: Designer Koji Tatsuno has been named a consultant at Et Vous, a trendy Paris-based sportswear label, joining French designer Catherine Malandrino, who handled the line for the past three seasons. The designers will work with William Chelly, a founder and the chairman of the company.

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