We've been through the financial mess that is the Christian Lacroix brand, so let's not make ourselves miserable by crunching numbers again. The situation stands that if the house's current owner, Florida-based Falic Group, can't find a suitable buyer by month's end, the brand will essentially close and only produce goods as a licensing operation. So what's the latest?

Falic Group have rejected three bids to save the company and now is entertaining a more "serious" offer from Italy's Borletti group, according to WWD. Maurizio Borletti previously bought the French department store Printemps from PPR in 2006.

Time's winding down. We need a cocktail to take the edge off.