Japanese clothing designer Yohji Yamamoto’s fashion house has filed for bankruptcy.
Yohji Yamamoto, best known for his Y3 Adidas tie-up, said that the downturn had impacted sales and landed it with debts of 6bn yen (£42m).
Yohji Yamamoto has filed for bankruptcy in the Tokyo courts but under Japanese law, he can keep the business afloat while restructuring takes place.
Integral Corporation, the investment firm, has signed a deal to sponsor Yohji Yamamoto and inject cash.
Integral has entered in to a sponsor agreement to invest in the Yohji Yamamoto and Limi Yamamoto brands.
It will also assist with management resources.
Integral’s Yoshihiro Hemmi, formerly vice-president of Adidas Japan, will become chairman of the fashion house’s board.