Yohji Yamamoto, the Japanese fashion designer, filed for bankruptcy protection but plans to continue to design the Y3 sportswear line for Adidas AG.
Adidas has a “long-term cooperation” with the Yokohama- born designer that is expected to continue, Kirsten Keck, a spokeswoman for the German sporting-goods company, told Bloomberg News.
Yohji Yamamoto Inc. filed for bankruptcy in Japan amid slumping global sales. The Japanese company's debts totaled six billion yen ($67 million), more than its assets, according to Associated Press. Integral Corp., an investment company based in Tokyo, has agreed to provide debtor-in-possession financing.