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Money Woes

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Gen Art is having serious financial troubles. The company, which traditionally opens LA fashion week with its up-and-coming talent showcases, hopes to raise $250,000 at a benefit tomorrow night; founder Ian Gerard told WWD that they need an additional $500,000 in investment capital to survive. Past LA honorees include Society for Rational Dress, Geren Ford and Rodarte. [WWD, subscription req]