Yesterday we learned that the house of Christian Lacroix had filed for bankruptcy in a Paris court. The company is expected to cut jobs to stay afloat. Lacroix himself is contractually obligated to stay on until next year. Though the CEO said he hoped to stage a scaled-back couture show, a spokesperson for the label said, "Regrettably, I cannot yet confirm if the July show will be going ahead." Noooooo! In its 22 years in existence, the label has not once turned a profit. Job cuts could leave the couture business difficult to sustain. [Independent UK]