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Betsey Johnson Files for Bankruptcy!

3,545 views · Published 26 April 2012 · 1:41 · Indexed 4 October 2026

Channel: Clevver Style · 2012 · Howto & Style

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Betsey Johnson Files for Bankruptcy! 
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Our beloved designer, Betsey Johnson is filing for bankruptcy. 

According to Women's Wear Daily majority of the designer's boutiques will shut down and over 350 off her staff will lose their jobs. 

The 63 stores that Betsey currently has open will begin shutting their doors within the next few weeks. 

But despite all of this sudden change, Betsey Johnson will still remain creative director of the brand and stay in charge of the design of her sportswear, accessories and other various products. 

From here on out, Betsey will focus on the moderately priced label which sells in Macy's among other retails, saying "I love the moderate price range. It is in synch with all the girls who are buying my clothes." 

The chief financial officer of Betsey Johnson LLC Jonathan Friedman said in a release, ""The decision to seek protection under chapter 11 comes after months of rigorously pursuing alternative restructuring arrangements to address Betsey Johnson LLC's cash flow problems." 

But after finding no solution—the CFO stated that, "our board made the determination that a Chapter 11 store closing process will likely be the best way to maximize the value of the company's assets, for the benefit of its creditors."

Store closing sales will happen after May 8th and will run until the end of July. 

I'm Brianna Baxter for Daily Style.

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