ID Models is “re-locating”.

Tipsters say the agency, which is home to Leelee Sobieski and um, Tara Reid, will close its doors on Friday but Paolo Zampolli, the agency’s founder, says they’re just moving.

“We are just moving into Major,” he says. Like a merger?

“No, no, no just a re-location, but you know, banks are merging. These are the things that happen in this economy.”

So, if it’s not closing it sounds like a merger to us. No models have been dropped yet, and they don’t plan on cutting their roster. Meanwhile, enough people behind the scenes, including agents, have been laid off to spark rumors of the end.

And where there’s smoke…