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After the hot mess known as Lindsay Lohan practically destroyed the label with those heart shaped pasties, Ungaro is looking for investors to get them out of their $25 million+ debt.
The label has already been slashing expenses, which included closing their Madison Avenue store, but that obviously wasn't enough to help their empty wallet.
Ungaro did see a glimmer of hope when one investment group was interested in a sale, but according to a source "all bets are off" after the craptastic showing in October.
See, Lindsanity was right when she said she's bad for business and cheapens things!
[Image via AP Images.]
Posted: March 25, 2010 at 12:00 pm
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