Models and modeling agencies are not immune from the recession. Irene Marie Models - a Miami-based modeling agency that was part of the MTV reality tv show 8th & Ocean - is shutting down according to a story published in the Miami Herald.
Irene Marie Models, a stalwart on the South Beach fashion scene for decades, has shut its doors and may file for bankruptcy protection, a victim of the slowdown in advertising.
The modeling agency, which had downsized during the past year, laid off its last six employees on Friday.
"When you are sitting in the middle of February, which is one of the biggest months of the year, in a seasonable business, and there is not much hope left, I was forced into a very difficult decision," said agency founder and owner Irene Marie.
Irene Marie Models isn't the only agency suffering from the economic crisis.
At Paris Fashion Week earlier this year catwalk models were said to be going for half-price.
Models and modeling agencies are not immune from the recession. 
