Zac Posen has just released the devastating news that his epnoymous label has been forced to shut down, after having failed to find new investors or buyers to save the business.
The designer confirmed that both his namesake line, House of Z, as well as his diffusion line, Z Spoke, have been forced to close. Posen told publication WWD that the news was "pretty intense" and "surreal," but revealed that he had no other choice but to shut down trading.
"My partners and I tried everything possible within our means to find solutions to keep it going. I have been trying to find the right strategic partners at this tough time in retail and in the industry. The clock ran out."
He continued, "It breaks my heart for my customer and the people who work for me."
Posen has been a long-time celebrity favourite, boasting an impressive clientele with the likes of Amal Clooney, Deepika Padukone and Michelle Obama all having frequently worn his designs. More recently, Posen was also given the honour of designing Princess Eugenie's second wedding dress, which she wore at her evening reception.