It has been revealed Betsey Johnson LLC has filed for Chapter 11 bankruptcy. Majority of the Betsey Johnson stores will be closed ; however, the label will focus on its lower-priced range of clothing, which is sold at Macy’s and other mass retailers. Meanwhile, Steven Madden, Ltd., which has owned all of Betsey Johnson’s intellectual property since assuming her debt of $48.8 in 2010. A devastating result has caused approximately 360 jobs. Fortunately, it was not disturb wholesale deliveries or e-commerce.
Some have speculated this is not a surprise. My honest opinion based on the downfall of the label are based on the new up and coming streetwear designers. These artists have the raw talent and ability as Betsey Johnson selling their product for reasonable prices. I understand there is a specific aesthetic when it comes to the brand, there should have been more catchy campaigns or superstar backing. To my knowledge, there was not! Many young ladies out there will not be happy about this.