Emanuel Ungaro, the once high-end line of the Paris-based designer who sold his name and company in 2005, made headlines last year for electing Lindsay Lohan as its full-time muse and, improbably, artistic designer. (The company even fired a designer who refused to learn from the wisdom of the Lohan.) The line, under Lohan... let's say it suffered? ("The collection was such a failure that we could not believe they kept her on," is how fashion publicist Kelly Cutrone put it.) And now, the business is making drastic financial arrangements-closing their Madison Avenue shop, according to a staff member. READ MORE