Carven, and its parent company, Société Béranger, have filed a voluntary petition with the Paris Commercial Court for the French equivalent of Chapter 11 bankruptcy protection. It has been officially put into receivership, and is looking for a buyer. The contemporary Paris Fashion Week brand, which reportedly employs 99 people and has annual revenues in the region of 20 million euros, suffered a substantial loss when the production of its spring/summer 2018 collection was delayed, and it was forced to cancel deliveries. The ill-fated collection is the first from creative director Serge Ruffieux, who took the helm on February 1 2017. Upon his appointment the brand announced that Ruffieux would oversee “a new stage of growth and development of the house”, and Ruffieux, himself, said that he felt “a real affinity for Madame Carven and her vision of fashion.” Read more at Vogue.