Halston Heritage

Malin Akerman attended a gala in Beverly Hills last night looking bright and refreshing in this Halston Heritage yellow halter dress ($104, originally $345), which is now on sale for 70 percent off! She finished off her red-carpet look with two-toned cutout sandals, a couple of sparkly rings, matching drop earrings, and a black patent clutch. Score Malin's exact dress now to work into your Fall wardrobe. You can sport it with fancy sandals and shiny baubles for a special date night or go more serious in black booties and a blazer.

On her way into David Letterman's studios in NYC, Anna Kendrick showed off a beautiful one-shoulder yellow satin Halston Heritage dress, which she tamed with a pair of nude peep-toe platform pumps and these Dana Rebecca yellow diamond earrings ($1,870). While many Fall pieces tend to be moody in color, we think Anna's dress is the perfect way to light up any Fall wedding or any other special event you'll be going to this season. To make it Fall-appropriate, you can pair your sunny dress with a serious statement necklace and gunmetal or pewter footwear. Inspired by Anna, we handpicked a few yellow and chartreuse dresses below, so shop your favorites now.

>> Marios Schwab's fate at Halston didn't sound promising yesterday, and now it's been determined: his contract, which expired, will not be renewed. It sounds like the Halston designer collection, too, is no longer: The brand will reportedly not produce a Spring 2012 collection, and it sounds like it's unclear as to whether the Fall 2011 collection will be delivered to stores.

Harvey Weinstein, who has had an equity stake in Halston for the past couple of years, has also officially split from the brand. As WWD notes, he brought high-profile attention to the brand with his name attached, but: "His role was essentially that of a figurehead with little or no operational responsibility."

Despite all the departures, Halston is still said to have full confidence from parent company Hilco Consumer Capital, which recently invested $7.5 million in the brand more after seeing recent growth at retail. The focus going forward is said to be on the secondary Halston Heritage line.

Harvey Weinstein is next to leave Halston, following on the heels of Sarah Jessica Parker who announced her departure Wednesday. Weinstein had an equity stake in the brand for many years, serving as a figurehead while it hasn't been able to regain its fashion status since its jumpsuit-fueled, disco '70s heyday. Adding fuel to the fire is speculation on Halston's creative designer, Marios Schwab, and where he stands in the middle of all the recent changes. According to WWD, Schwab's contract might not be renewed unless he relocates from London to New York, where Halston is based. More news on what's to happen with Halston is slated to be released in the next 10 days.

>> On the heels of news that Sarah Jessica Parker and Harvey Weinstein are both on their way out from Halston, the next logical question is: What about Halston creative director Marios Schwab?

According to WWD, there's recently been speculation that Schwab's contract may not be renewed unless he relocates from London, where he designs his eponymous collection, to New York, where Halston is based. Adding fuel to that fire is the fact that Halston owners Hilco Consumer Capital currently seem to be interested in pursuing a licensing model over selling the brand or seeking additional investment to support Schwab.

But where did it go wrong with Parker? WWD points out: "Unlike Victoria Beckham and Mary-Kate and Ashley Olsen, who have made successful transitions into fashion, Parker never put her entertainment projects on the back burner to focus exclusively on Halston and instead spent months on movie sets when she might have been a fixture in Halston’s showroom . . . In the early days, Parker was very involved in the Halston Heritage design process and, on occasion, sported the label in her public outings. Over time, however, the actress is said to have used her role at the firm to demand the kinds of clothes she wanted for herself, which were often at odds with the positioning of the contemporary Heritage collection and the overall DNA of Halston."

Under Parker's current agreement with Hilco, which is in the process of being terminated, she is said to be entitled to roughly $13 million over the next four years.

>> Sarah Jessica Parker, who joined Halston in January 2010 as the president and chief creative officer of the Halston Heritage contemporary label (and simultaneously took equity in the company), is no longer involved with the brand, Vogue reports. In Parker's August 2011 Vogue cover story, writer Eve MacSweeney notes that her Halston "relationship recently came to an end." Parker was still working with Halston as recently as late April, but at the time it was also suggested that the label was cash poor and could be sold again. [Vogue]

>> Halston, which was acquired by Hilco Consumer Capital and Harvey Weinstein's The Weinstein Company in 2007, is said to be looking for some more funds these days. According to a source familiar with the situation, WWD reports, the brand has hired an investment bank to explore its options, which could range from a cash infusion to a sale of the whole company.

The contemporary Halston Heritage label, of which Sarah Jessica Parker is president and chief creative officer, has been gaining traction since its launch a year ago. It “was definitely a viable business,” says the source, but the company needs more growth capital and the investors don't want to put more money in after four years. It could be tough to do a deal, however, the source warns: “It’s a very complicated structure and dynamic at the board level."

Richard Kaye, EVP and chief marketing officer at Hilco Trading, Hilco Consumer Capital's parent company, had no comment on any future plans for Halston.