Zac Posen, the king of the ball gown, has today announced he is shutting his fashion label, House of Z.

NEW YORK CITY, UNITED STATES – 2019/09/26: Sarah Jessica Parker (L) and Fashion Designer Zac Posen attend the NYC Ballet Fall Fashion Gala held at Lincoln Center in New York City. (Photo by Efren Landaos/SOPA Images/LightRocket via Getty Images)

A designer since the early 2000s, Posen rose to fame with glamorous red carpet gowns, responsible for dressing some of the biggest names in Hollywood. Famous for his fit-flare mermaid shape, his sweeping gowns soon became a red carpet favourite, with everyone from Michelle Obama to Oprah to Katie Holmes (a huge Posen fan) wearing his frocks. He also became a much-loved judge on Project Runway.

NEW YORK, NY – MAY 01: (L-R) Zac Posen and Katie Holmes attend the “Rei Kawakubo/Comme des Garcons: Art Of The In-Between” Costume Institute Gala at Metropolitan Museum of Art on May 1, 2017 in New York City. (Photo by Noam Galai/FilmMagic)

Closing effective immediately, about 60 staff were informed on Friday, while his recent spring collection from September will not be shipped.

“I want to express my appreciation to our extraordinary team and for all those who have stood by me and the brand. I owe a great deal of gratitude for their unwavering support for and dedication to the Company. I am grateful to the team who lent their incomparable talent and commitment along the way. I remain incredibly proud of what we created and hopeful for the future. Love ZP,” Posen wrote on Instagram.

NEW YORK, NY – SEPTEMBER 12: A model walks the runway at the Zac Posen Spring Summer 2017 fashion show during New York Fashion Week on September 12, 2016 in New York, United States. (Photo by Catwalking/Getty Images)

The designer told WWD the decision was “surprising and immediate,” calling the closure “horrible”, “pretty intense” and “surreal”. He continued: “My partners and I tried everything possible within our means to find solutions to keep it going. I have been trying to find the right strategic partners at this tough time in retail and in the industry. The clock ran out.”

NEW YORK, NY – FEBRUARY 16: Zac Posen and Noami Campbell walk the runway at the Zac Posen fashion show during Mercedes-Benz Fashion Week Fall 2015 at Vanderbilt Hall at Grand Central Terminal on February 16, 2015 in New York City. (Photo by Neilson Barnard/Getty Images)