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May 11, 2012

Liquidation Proceedings Begin At Betsey Johnson

We all knew it was coming but today the time came for Betsey Johnson bosses to start liquidating the company's assets. Yesterday a judge approved the bankruptcy proceedings to begin and Gordon Brothers Group Inc, and Hilco Merchang Resources will take control of the process.

As we knew, almost all of the boutiques are set to close and just about everything from lighting to furniture will be sold to pay off creditors. The only saving grace is that Steve Madden, who bought the brand from Johnson back in 2007, will continue to make sure that the affordable range will be available in department stores.

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