Most recently, Christian Lacroix, which went into Chapter 11 earlier this year, filed a restructuring plan. According to this plan the couture and fashion company will close all business except for its licensing department.
Of course, Christian Lacroix comes a bit late to the game. There are already many better known and more successful fashion brands, which turned into licensing operations. And many others sold themselves to manufacturing licensees.
If your profitability goes down and your manufacturing is not one of your competitive advantages, better check for an alternative early. You might still have a good negotiation position. And money to get a license placed.
Once your down to the last bone usually it is too late, for you and your brand.