Today In Sad Fashion News: Betsey Johnson’s Liquidation Begins
A couple weeks ago we read that favorite fashionista Betsey Johnson declared bankruptcy, and was forced to shut down many of her stores. Cuts were made to her design team and production on her next line was halted. Well it seems there’s even more bad news for the legendarily wacky designer: A deal has been reached to start liquidating the company’s assets in order to pay back the $6.8 million Johnson owes her creditors, and it’s going to involve getting rid of virtually everything. That means there’ll be sales on everything from store fixtures and furniture, to Johnson’s signature sparkly, pink clothing. Which is good news for Betsey fans trying to get a deal on glitter tutus, but bad news for 350 people that lost their jobs.
While we’ve long grown out of Betsey’s style, we can’t even count the number of friends who wore (or wanted to wear) Betsey Johnson dresses to their proms. Betsey represents a certain Sassy-fied era in fashion, and her own bright and bubbly personality spoke through her clothing. [Reuters]