WWD reports that the label was in the final stages of negotiating a financing deal with an unnamed investor earlier this month when talks broke down. According to WWD's source, Vena Cava's current financial state is "drastic," and it won't be able to move forward without an angel investor or partner coming forward.
Fashionista, meanwhile, reports: "According to a source close to the situation, the label moved out of their Soho headquarters this week and laid off a lot of staff." Apparently founders Lisa Mayock and Sophie Buhai, who started Vena Cava in 2003, have moved their offices home, and still have a deal with TJ Maxx in the works.
“We love what we built with Vena Cava and are dedicated to seeing it thrive and grow. We have had some very positive talks from potential partners and feel confident about moving forward,” Mayock told WWD.