Christian Lacroix Sale Delayed


Ajman sheikh Hassan Bin Ali al-Nuaimi expected to finalize his takeover of Christian Lacroix by the end of this month. However, the French tribunal in charge of overseeing the sale has decided to put off their hearings on the matter until November 17, citing procedural delays. Nuaimi's $100 million offer, which promises to keep jobs and pay off bills and that sort of thing, is said to be favored by administrators. However, officials want to finalize an "economic recovery plan" before approving the deal. They urge everyone not to stress out. [AFP]