Morgan, the French fashion retailer that counts Carla Bruni, fashion icon and wife of the French President, among its models, has filed for bankruptcy after falling victim to the crisis gripping retailers worldwide.

The group, which has also been hit by competition from large global retailers such as Zara and Hennes & Mauritz, has been on the block for most of the year, but talks with potential buyers have not resulted in a sale.

Morgan, which is 40 per cent-owned by Apax, the private equity firm, said that its revenues for 2008 had fallen by about 9 per cent to around €140 million (£137 million), while the group is sitting on about €30 million of debt. Another 40 per cent of Morgan is held by the founding Bismuth and Barouch families.

A spokesman for Morgan said: “The company is suffering from the financial crisis like everybody else. There are several interested takers and the fact that the group is going into administration could attract even more.”

Morgan, for which Mischa Barton, the actress, has also modelled, has 575 stores in 57 countries, which employ about 1,000 people, including 750 in France. Morgan does not operate in Britain, having quit the country in March.

The retailer, which was founded in 1968, reached its peak in the 1990s, helped by advertising campaigns that featured Ms Bruni, the former supermodel-turned-pop singer who is now the wife of President Sarkozy of France. David Ginola, the French footballer, has also appeared in Morgan's advertising.

Morgan filed for bankruptcy a day after USC, the 58-store fashion chain, fell into administration, another retailing victim of the credit crunch. In a “pre-pack” deal, USC's administrator immediately sold up to 43 of the stores back to a subsidiary of Sir Tom Hunter's West Coast Capital, which owns USC. The administrator plans to wind down the rest of the business, with the loss of up to 300 jobs.

USC's administration, in turn, emerged only a day after Adams, the retailer of children's clothing, said that it had called in administrators over the weekend. Adams, which has 260 stores in Britain and 116 overseas outlets, also makes clothes for Boots. Its collapse has put about 2,000 jobs at risk.

Woolworths, the general retailer, and Zavvi, the entertainment retailer, are also in administration.

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