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The Sun-Times' Bill Zwecker reported that Pinto will cease operations of her Lola Black LLC company and close her West Loop boutique. She's also expected to file for bankruptcy protection later this week.
She told Zwecker she's "confident that the Maria Pinto name will not go away, but will merely take a break before emerging in a new form." Pinto said she'll take several months to feel out her next move.
Pinto said the tough economy and changes in the fashion market were to blame for her closing her doors.