In the bizarrely titled piece, “A Fashion Wedgie” (an unappetizing reference I still don’t quite understand), which ran today in the New York Post, it's reported that designer Thom Browne’s fashion business is doomed to bite the dust. “Having spent lavishly on expensive tailors and over-the-top fashion shows, Browne has watched the Wall Street crisis kill demand for his tight, geeky ‘Pee-wee Herman’ outfits, which last year carried price tags upward of $5,000 each,” says the Post. While just how exorbitant Browne’s spending on tailor’s and fashion shows actually got is up for debate (after all, his suits are meant to mimic the craftsmanship of a Savile Row-crafted garments, which don’t come cheap; not to mention his most recent men's show in Florence was anything but lavish), if his company is in fact soon-to-be dead and buried, does it even matter?

Business hasn’t been all bad for Browne, as the Post points out: “Browne also has cut lucrative licensing deals with Harry Winston, Moncler and most significantly, a multimillion-dollar design deal with Brooks Brothers that extends to 2011.” But that’s not to say licensing deals are necessarily enough to save a company producing high-end specialty suits that are far from fit for the mainstream consumer during a time when belts are being tightened across the board. A tipster told the Post if Browne’s debt isn’t addressed in the next few weeks, his filing for bankruptcy is a sure bet. So, rumors aside, whether or not the king of high waters will stay afloat remains to be seen.