May 2, 2012

Betsey Johnson announces bankruptcy

After 34 years of activity, a spokesman for Betsey Johnson said that the company is in bankruptcy. This means over 350 employees will loose their jobs and 63 stores will be closed.

Steve Madden, the owner of the brand’s intellectual property rights since 2010, said he will continue to support the brand and he will make sure all the existing orders will be honored.

The brand’s clothes will be still available in Saks Fifth Avenue, Bloomingdales and Nordstrom.

Betsey Johnson herself will keep on creating cloths for the brand’s lower priced Betsey Johnson line, sold in Macy’s and other mass retailers.

 Photos: aaroncobbett.com, efashionfactor.blogspot.com, heartymagazine.com, sheknows.com