HALSTON

Any of these designs could be worn today looking just as chic and fresh as they did back in 1977.........so whats the problem??????

Sarah Jessica Parker and Harvey Weinstein are taking a painful final markdown at Halston.

Parker, famous for playing Carrie Bradshaw in "Sex and the City," is getting a payout of more than $3 million in exchange for her ownership stake in the flailing fashion label -- as well as an exit from the remainder of her contract as a Halston designer, The Post has learned.

Meanwhile, Hollywood mogul Weinstein is selling his stake in Halston, which had approached 10 percent, for between $1 million and $1.5 million, as the company finalizes a restructuring of its mounting debt load that could be announced as soon as today, sources said.
Harvey Weinstein (right), who co-owns Halston with Hilco Consumer Capital, is exiting the once-iconic fashion label, along with Sarah Jessica Parker, the brand’s chief creative officer, after clashing with Hilco.
WireImage
Harvey Weinstein (right), who co-owns Halston with Hilco Consumer Capital, is exiting the once-iconic fashion label, along with Sarah Jessica Parker, the brand’s chief creative officer, after clashing with Hilco.

Those sums, while tidy by the standards of a struggling fashion brand, are paltry compared with what Parker and Weinstein had hoped to reap by returning Halston to the prominence it enjoyed in the '70s and '80s.

Parker, who had been designing a lower-price line called Halston Heritage, is ditching a contract that had entitled her to nearly $10 million over the next 3-½ years, according to one source close to the actress.

"Sarah felt that she has the opportunity to do a lot more with herself, and make a lot more money in the process, if she goes elsewhere," according to the source, adding, "she was tired of all the conflict."

Indeed, fashion sources said that Halston has been rocked this year by arguments between Weinstein and executives at Hilco, a Chicago-based liquidation firm that took control of Halston in 2007 in a $25 million buyout.

"There have been a lot of screaming matches," a Halston insider told The Post. "They really couldn't agree on too much -- the management team, expenses, the company's structure."