Fashion Designer Betsey Johnson Files for Bankruptcy

Designer Betsey Johnson's fashion company, Betsey Johnson LLC filed for chapter 11 bankruptcy on April 26 in New York. Betsey Johnson is know for her quirky personality and bright and colorful designs,

The company plans to close most of its 63 stores, with a few flagship stores expected to remain open. The company currently employs over 400 people. The Betsey Johnson fashion label was started back in 1978.

The companies largest creditors are Haskell Jewels, American Express Co. and FedEx. As part of the bankruptcy reorganization plan, the company plans to sell its assets to Hilco Merchant Resources LLC who will then liquidate most of the company's inventory.

If you have any questions about bankruptcy, contact an Orange County Bankruptcy Attorney at 1st California Law!