Yesterday the Post reported that Emanuel Ungaro owner Asim Abdullah had been in talks to sell the label, but potential investors pulled out since Lindsay Lohan’s stint there was such an embarrassment. Today Abdullah says the rumors are “absolutely not true,” adding, “The company is not for sale.” He continued, “We are not entertaining any conversations with anyone about the sale of the company.” Though he did admit the label is trying to “rationalize costs.” Finally, some rational thinking! [WWD]
