The Liz Claiborne company is rumored to be on the verge of selling off four of its brands. And four more are apparently also about to appear on the auction block. All we can think of is the fact that the company's new Chief Creative Officer, Project Runway's Tim Gunn, has four categories for clothing on his new show ,Tim Gunn's Guide To Style: Keep, Mend, Give Away, Trash. Yeah, Claiborne needs the Tim Gunn system in a bad way. [Reuters]

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