BCBG is looking for potential investors to help refinance its debt.Although the fashion house - best known for its BCBG, Max Azria and Hervé Léger collections - has dismissed rumours that it is looking to sell the business in its entirety, it has hired US-based company Blackstone Group to "advise on strategic alternatives".

The brand's outstanding debt currently stands at $230 million (£152 million), WWD reports.One of its current investors, Guggenheim Partners, is thought to own the majority of the arrears.The label is said to be worth approximately $900 million (£598 million).

A company restructuring is also expected imminently, involving the hire of a new CEO - so that Max Azria and his wife, Lubov, can concentrate on the creative aspect of the firm, rather than business.