Fashion has another major casualty: Zac Posen. The designer is shuttering the business that he founded in 2001.Employees were informed this afternoon. The company is ceasing operations as of today, and the spring collection Posen showed in September will not be shipped. “The board made a difficult decision,” Posen told WWD. “We were in a sale process and we ran out of time.” See WWD.com as the story develops.