According to WWD, Liz Claiborne Inc. is cleaning house. They have reached an agreement to sell Laundry By Design and C&C California to Perry Ellis International for approximately $37 million in badly needed cash. Additionally, Sigrid Olsen will be shuttered.
The company has decided to retain and focus on their Encye brand. No word yet on the other faltering brands remaining such as Dana Buchman and Ellen Tracy. But stay tuned.