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Zac Posen shutters business, axes entire staff: reports

Zac Posen, designer to celebrities and former “Project Runway” judge, is taking his final bow. The 39-year-old designer known for his evening gown creations announced Friday that he’s shutting down his business, Women’s Wear Daily reports. “The board made a difficult decision,” Posen tells WWD. “We were in a sale process and we ran out of time.” Operations for the eponymous label are ceasing as of today and about 60 employees were informed they were being let go Friday, Vogue reports. Posen’s company has been in the middle of a sale process, according to the magazine, and an investment firm founded by Ron Burkle was looking to sell off its stake in the label. Posen just showed his spring 2020 collection during New Y ...