The news comes as a surprise to many-a-fashionistas with a reaction similar to the above image. Despite a 50% increase in wholesale business, the continued poor performance of her retail stores effectuated this decision. As she told WWD, “...I need to be better. I really need to work well and be more efficient.” Although many of the stores will be closing and over 3/4 of employees will be laid off, with the assistance of License owner Steven Madden Ltd. several of the NY flagship stores will remain open.
*WHEW*
There's somewhat of a comfort knowing this news is just 'another chapter' and not the end of Betsey's design story. I mean, come on...bankrupcy?? Puh-lease! Girlfriend survived BREAST CANCER!!! After that battle, ANYTHING life throws at her should be like a stroll in Central Park. True to form and resilient as ever, the designer will still forge on with Chapter 12: "Betsey & Lulu". The new reality series airs this spring on the Style Network. Betsey will also remain creative director of her brand and continue to develop her lower priced line "Betsey Johnson".
Stay strong Bets'...We're all rooting for ya! ;)
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