News that Sarah Jessica Parker had terminated her contract with Halston broke earlier this week, and now it appears that one of the label's other star board members, Harvey Weinstein, is leaving as well. Their exits seem to be by-products of the troubled company's search for a solution to their continuing financial woes. Reports Women's Wear Daily:
As reported in April, Hilco was looking for additional investment or to potentially sell Halston. According to one source, there were at least three bidders for the company including Max Azria, but Halston is now said to be pursuing a licensing model instead. The departure of Parker and Weinstein — both high-profile personalities with no experience in running a fashion licensing business — could clear the path for this.
The details of Weinstein's departure aren't yet known, but WWD adds that Parker is still entitled to "roughly $13 million over the next four years under her current agreement." It's also worth noting that no one at Halston or either of its two owners, Hilco Consumer Capital and Weinstein Co., have commented on the matter yet, so most of this news is coming from unidentified "industry insiders."