Betsey Johnson going-out-of-business sales start in Las Vegas, around the world
11 May 2012
Women’s wear retailer Betsey Johnson LLCon Friday launched going-out-of-business sales at its stores in the Las Vegas area and around the world after filing for bankruptcy.
The 32-year-old chain has stores at the Fashion Show mall and the Miracle Mile Shops on the Las Vegas Strip and at the Fashion Outlets Las Vegas mall in Primm on I-15 at the California border.
Bloomberg News reported the company on Thursday won bankruptcy court approval to sell all its merchandise to liquidators that, in turn, announced the going-out-of-business sales.
The Wall Street Journal reported that retailer Steven Madden Ltd., which owns the Betsey Johnson trademark, may keep a handful of stores open in retail destinations like New York City, where the chain is based. The “going-out-of-business” announcement didn’t indicate which of the stores, if any, may be taken over by Madden.
On Thursday, the court-appointed liquidators said the going-out-of business sales will be conducted at all 54 U.S. Betsey Johnson stores and at all nine U.S. Betsey Johnson outlets.
Operating its own fashion house, Betsey Johnson also sells its products in department and specialty stores worldwide, including Macy’s and Lord & Taylor, and online.
Johnson is known for her over-the-top, bold styles, Reuters reported in a story on the chain’s April bankruptcy.
The stores have rock ‘n’ roll and hippie-themed clothing like cocktail dresses, as well as accessories that are marketed to young women. Sales slumped during the economic slowdown, Reuters reported.
The sales will continue until all merchandise is sold and merchandise will be offered at discounts of 20 percent to 50 percent, the merchandisers said.
Betsey Johnson gift cards will be honored until June 1.
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