Today, Betsey Johnson LLC filed for Chapter 11 Bankruptcy protection. Ah! Oh No! This will mostly affect her retail shops – most of which will close and with about 350 people losing jobs. BJ will stay on as the creative director of the brand and continue with her moderately priced line and accessories. If you’re a Betsey Johnson fan I wouldn’t be too worried. Filing for Chapter 11 doesn’t mean the company is dead. It just means they need some help paying their bills and filing for Chapter 11 gives them some protection. It could be a step toward demise, or it could be a step toward a better future. Steve Madden, which owns the BJ Licenses is working on finding a new apparel license within the next few days so as not to disrupt future deliveries. I’m keeping my fingers crossed on this one.
In more positive news, Betsey Johnson and her daughter Lulu will be starring in their own reality show aptly titled “Betsey + Lulu”. The show is supposed to follow the mother duo in New York City and will follow Lulu as she tries to launch her own fashion brand and step out on her own. This show couldn’t come at a better time – it will be great promotion for the BJ brand and perhaps breathe new life into it.
All images from the Betsey Johnson Facebook Page
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