Is Betsey Johnson Broke?
I found this article online on Fashionista.com and thought it was intresting, makes sense why her bags are always in Ross and TJ Maxx. I have always loved Betsey but i guess the empire is crumbling. $450 for a dress does seem like a lot.
Betsey Johnson is broke, and she owes a lot of money that she can’t pay back. So Steve Madden–who already owns the license to sell handbags under Johnson’s name–has taken over a $48.8 million loan to Johnson’s firm. That means if she cannot pay him back by Aug. 20, 2012, Madden will own the Betsey Johnson brand.
Here bags are also on clearance at Hot Topic 🙁
Going off this article it seems like Betsey doesn’t even design the stuff anymore if everything is licensed out. Thats kind disappointing.
What do you guys think about this? SAD or about Time?!
Source: Fashionista
