Betsey Johnson Files Chapter 11

Store closings expected
Posted April 27, 2012

Betsey Johnson LLC has filed for bankruptcy protection in New York. According to the filing, the company began exploring strategic alternatives in January and hired Morpheus Capital and Advisors LLC to help it find new equity investors or sell the company the following month.

Most of the chain's 63 stores are expected to close, a person familiar with the matter told The Wall Street Journal.

The Betsey Johnson license is owned by Steven Madden Ltd.