Morgan dressed French women for 60 years — then two crises in two years

Morgan was founded in 1947 in Paris as a lingerie business. Over six decades, it grew into an international women's fashion brand with over 650 retail outlets worldwide, including stand-alone stores and concessions in Debenhams and House of Fraser in the UK. The brand targeted women aged 18–35 and was vertically integrated, with most production in France.

The UK operation went into administration in 2006. Morgan's British business had been losing ground to faster-moving European fashion chains and was unable to compete. The administration resulted in store closures and job losses, though the exact scale was not publicly disclosed.

Two years later, in December 2008, the French parent business went bankrupt. The global financial crisis had crushed consumer spending across Europe, and Morgan — heavily dependent on mid-market retail footfall — could not weather the storm. The company was placed into insolvency proceedings in France.