Designer house Yohji Yamamoto files for rehabilitation process

TOKYO, Oct. 9 Kyodo -
Yohji Yamamoto, a fashion company of globally known designer Yoji Yamamoto,
said Friday it has filed with the Tokyo District Court for corporate
rehabilitation after piling up debts totaling 6 billion yen.
''In effect, we have liabilities in excess of assets'' as a result of the
global recession since last year, the yen's appreciation and sluggish personal
consumption, said the designer house, which was founded in 1972.
Under the Civil Rehabilitation Law designed for a fast revival, Yohji Yamamoto
will seek to rehabilitate its operations by transferring them to a company to
be established by Japanese investment firm Integral Corp. Yamamoto will remain
chief designer and continue to showcase his designs at the Paris Collection.
''I'm responsible'' for Yohji Yamamoto's failure because ''I have overly
relegated its management to successive chief executives,'' Yamamoto said at a
press conference in Tokyo.
Yohji Yamamoto has become an international designer brand since Yamamoto's
sensational Paris debut in 1981.
==Kyodo