Looks like even Anna couldn’t save Bill Blass from Peter Som’s departure.

WWD confirms this morning that our initial reports are now absolutely cemented. NexCen, Bill Blass’ financially troubled parent company, could not sell the Bill Blass label in time (we’re guessing this has something to do with the cash-strapped state of, uh, everybody), meaning Peter would have to have gone on designing the collection in adherence to way too many constraints to fit his vision for the nearly 40-year old brand, and so he’ll just be sticking to his eponymous label from now on.

So what does this mean for Bill Blass? Well, in addition to their current sale being some of the last Peter Som-designed duds to go for less than retail (we heard there’s a $30 rack - yes), the design direction of their Fall 09 collection will be helmed by Prabal Gurung, Peter’s first mate, who will now have the added pressure of bringing the next collection to the runway, a feat even Peter couldn’t get NexCen to budget.

And what happens if the economy doesn’t pick up at all, and NexCen isn’t able to sell Bill Blass to better owners? Stay tuned…