Morgan, the brash high street fashion brand founded 40 years ago by two Parisian sisters, has become the first French retailer to fall victim to the credit crisis after being forced to file for bankruptcy protection.
The brand - best known for its highly trendy, somewhat suggestive clothing for teens and young women - went in to administration on Christmas eve after it was unable to win agreement from bankers for a renegotiation of its €30m ($42.3m) net debt.
