She is amazing. She is pink. She is and will always be perfect. Today, Betsey Johnson LLC filed Chapter 11 bankruptcy.
Though her boutiques may not be around after this summer, we will always have her fashions. The new focus will be on the Betsey Johnson label which is sold in Macy’s and other retailers with the similar moderate price-point.
Within the next few weeks, there are plans to liquidate the 63 stores. The liquidation company has yet to be chosen.
The Chief Financial Officer, Jonathan Friedman, tried strongly to recruit the necessary investors and thought about other restructuring possibilities, but in the end the board voted to file.
Let us look back on Betsey’s amazing history:
- August 10, 1942 – Betsey is born
- 1964 – Won Mademoiselle Magazine‘s “Guest Editor Contest”
- 1969 – Betsey opens Betsey Bunki Nini
- 1972 – Betsey (and Halston) win the Coty Award
- 1978 – Partners with Chantal Bacon
- 1998 – International expansion begins
- 2002 – Inducted in the Fashion Walk of Fame
- 2003 – Licensing begins
- March 2005 - Signature Awards and NAWBO-NYC committee honor Betsey with the 2005 Lifetime Achievement Award
- November 2005 - Betsey received the Lifetime Achievement Award from the Accessories Council
- May 2007 – Betsey is named Designer of the Year Award at the annual Fashion Accessories Benefit Ball (FABB)
- October 2009 – Betsey is honored with the National Arts Club Medal of Honor for Lifetime Achievement in Fashion
- April 26, 2012 – One chapter closes and another one opens…Initial reporting by WWD.
NOOOOO. I had always said when I break it big, I’m gonna go buy a whole bunch of poofy dresses from Betsey Johnson. Now my dreams are smashed.
The only upside to this—mad crazy sales at Betsey Johnson stores in the next month. I’m so there.