A "source familiar with the situation" tells WWD that Halston has hired an investment bank to look into a possible sale of the label. In 2007 Harvey Weinstein and Hilco Consumer Capital acquired the label with plans to revive it with the help of Jimmy Choo founder and president Tamara Mellon. They launched a lower-priced line, Halston Heritage, and hired Sarah Jessica Parker to oversee it. "I have no allergy to learning," Parker had said of taking the job. But in November, CEO Bonnie Takhar, who was supposed to mentor Parker in her role, left the label.

From WWD:

The source said Heritage was getting traction and “was definitely a viable business,” but that the company needs growth capital and the investors don’t want to put more money in after four years.

But it could be a tough deal. “It’s a very complicated structure and dynamic at the board level,” the source said.

Yes, one would imagine that management consisting of Harvey Weinstein, Tamara Mellon, and Sarah Jessica Parker would be "very complicated" and "dynamic." To say the least.

Hilco Exploring Halston Options [WWD]