Ungaro Looking For Buyers To Take On Their Debt

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.]