OTHER NEWS - Sept. 10, 1991

Carolyne Roehm Closes Business: The fashion designer whose extravagant ball gowns and backing from her financier husband Henry Kravis made her a retailing name in the 1980s announced that she is going out of business. In a two-page statement, Roehm said the decision was made “after weighing all the pros and cons of continuing with my business, and in the wake of a personal family tragedy.” Adrienne Kalligeros, a spokeswoman for Carolyne Roehm Inc., denied that the shutdown was based mainly on financial problems affecting the company or on the slumping retail industry. However, the Wall Street Journal, quoting unnamed sources it described as familiar with the situation, said slow sales, high expenses and Kravis’ reluctance to continue investing in the ailing business were behind Roehm’s decision.