LOOM AND GLOOM IN HIGH FASHION
Versace and Barney's just did a round of layoffs. Luella Bartley and is going bust and of course, there was Christian Lacroix saga. Now, rumors are now swirling that Gucci and Zac Posen maybe the next to send out the shocking pink slip to employees. While reps for both businesses had no comment, those pesky industry "insiders" are saying its unfortunately so.
[New York Post]