Betsey Johnson Shops to Close; Line Will be Sold in Luxury Department Stores

Sad news for fashionistas: Forbes and other sources are reporting that designer Betsey Johnson LLC has filed for bankruptcy protection.

This means that most of the brand’s 63 stores will probably close. It listed “severe liquidity problems” and $4.1 million in outstanding unsecured obligations owed to vendors, manufacturers, service providers and other creditors including jewelers, watchmakers, banks and accountants.

Steve Madden, who has owned the 34-year-old brand’s intellectual property rights since 2010, has reportedly said that his company will continue to support the brand and ensure existing orders will be produced and ship on time. Betsey Johnson clothing will still be sold at Saks Fifth Avenue, Bloomingdales and Nordstrom, along with a handful of flagship locations.


Photo courtesy of BetseyJohnson.com

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