The Sonia Rykiel fashion label failed to find a buyer in the three months that followed its placement in receivership due to financial difficulties since 2016. Reportedly, the Paris Commercial Court judge had already postponed the deadline for submission of bids three times. Despite having received a dozen of potential offers, none of them went ahead. Over 130 staff are to be dismissed.

The label was founded in the 1960s by the late designer Sonia Rykiel, who has been described as a pioneer in opening the way towards ‘democratic ready-to-wear’ and who is praised for having played an important role in the history of contemporary fashion with upside down seams, the unstructured, and the ubiquitous black that have since inspired students from fashion schools worldwide.

“It is sad to see a name of such fame die out, but it is even more unfortunate to see how some shareholders can damage such brands”, French fashion historian Olivier Saillard told local media.

Source: France Info