Press Office Ltd.

The recession is over! The recession is over! Retailers and fashion labels may be shouting this comforting phrase from the hills, but there is an area of the fashion industry still struggling to regain momentum: public relations. Kelly Cutrone, for instance, has been extremely open regarding the hit her company took during the recession. It was even a subplot on her reality television show Kell on Earth. More recently, we witnessed the April 30 closure of Press Office Ltd., which repped brands including Karen Walker (now with Bradbury Lewis), Agnes B., Dunderdon, and Lover. One industry professional explained to us that, while business isn't necessarily down, rates are. The dollar figure clients are offering for monthly retainers, one-off events, and other services has literally halved in many circumstances. Which means PRs are working the same amount for a lot less money.