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.]