The Betsey Johnson LLC brand filed for Chapter 11 bankruptcy on Thursday, which will eventually lead to 400+ employees being discharged and 63 namesake stores placed in liquidation. Â Bought years prior by Steve Madden LTD, according to The Wall Street Journal, Madden may keep the New York City locations open, and possible other big city flagships. Â In the past year, the revenues of Betsey Johnson have not been great, as only Johnson’s cult fans continously bought the designer’s flamboyant and uber-colorful items. Â Johnson’s foray into fashion and design began in the late ’60s, and as once a part of Andy Warhol’s inner circle (she was even married to John Cale of The Velvet Underground) and the disco era of the ’70s, by the 1980s onward, she became a staple of downtown chic in a similar lane that includes Patricia Field, and for the U.K., Vivienne Westwood.
Her Macy’s in-store line (such as Betseyville) will remain, but if you are a fan of Betsey Johnson, show homegirl some love as when those out of business sales start going, there will be some coveted pieces to have like her Warhol-esque Marilyn Monroe silk screen tees and knitted sweaters, rainbow leopard printed and shimmery buttoned bags and clutches, and bright tu-tu dresses.
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