• Hart Schaffner Marx, Barack Obama’s favorite suit maker, has filed for Chapter 11 bankruptcy. Lest Obama go nude, business operations will continue as the company undergoes reorganization. [WWD]
• Ad pages in fashion magazines fell an average of 22 percent in the first quarter. Vogue’s were down 28 percent while Allure’s were down 35 percent. [WWD]
• Suzy Menkes on Rick Owens’s first menswear show: “Against a soaring soundtrack from ‘Salome,’ his models walked out as if acolytes of some quiet cult, hair shaven at the front, clothes in dark monastic layers and occasionally gilded horns circling the neck.” [IHT]
• LVMH chief Bernard Arnault and PPR chief François Pinault had a secret lunch in France last week at the invitation of Belgian billionaire Albert Frères. French people are dying to know what they talked about. [WWD]
• Duro Olowu is pulling out of London Fashion Week. He’ll show his collection through private appointments. [British Vogue]
