Y/Project, following the death of its co-founder Gilles Elalouf in June and the departure of its artistic director Glenn Martens last month, was placed in receivership by the Paris Commercial Court on September 26, according to legal documents.

Potential buyers have until October 16 to submit an offer for the company, which has 24 employees and generated revenue of just under €11 million in 2023, according to a press release published by the receivership firm 2M & Associés.

But without a creator, there is little chance that a buyer will take part in this adventure.

The Los Alamos Laboratory, also known as Project Y, was a secret laboratory created by the Manhattan Project and operated by the University of California during World War II. But let’s not talk about that, but about fashion designers

Y/Project was initially launched as a collaborative project between designer Yohan Serfaty and businessman Gilles Elalouf in 2010. Sadly, Serfaty passed away from cancer in 2013, leaving the brand without an artistic director. After Serfaty’s passing, Elalouf turned to Glenn Martens to lead the brand.