TOKYO, Oct 9, 2009 (AFP) - Japanese fashion brand Yohji Yamamoto Inc. said Friday 9 October it had filed for bankruptcy with debts worth 67 million dollars, as it was hit by the global slump and stronger yen.

Yohji Yamamoto during his ready-to-wear catwalk show, spring-summer 2010 in Paris on October 2 2009. Photo : AFP

The firm said it had made a corporate rehabilitation filing with the Tokyo District Court, seeking protection from creditors while maintaining its operations.

The company said it had debts worth six billion yen (67 million dollars).

The global economic crisis and the strength of the yen against the dollar overwhelmed the company's cost cutting efforts, it said in a statement.

"Regrettably, excessive debts have deteriorated our finances... and it has become difficult for us to continue operating on our own," the company said.

The fashion house will continue its normal operations, with chief designer Yohji Yamamoto keeping his creative work, including holding shows.

Its foreign subsidiaries will not be affected by the filing, the company added.

The company enjoyed annual sales of 11.91 billion yen in 2004 but that slumped to 9.58 billion yen for the year to August 2008, according to bankruptcy research firm Teikoku Databank.

The firm has shops in Japan, Belgium, Britain, France, Hong Kong, Italy, and the United States.