Edited by Amanda Gabriele on
Betsey Johnson has less than a year to pay back Steve Madden $48.8 million for a loan, or he might acquire her brand. Read more after the jump…
From The Cut:
Madden already holds a license for handbags, small leather goods, belts and umbrellas under the Betsey Johnson and Betseyville trademarks. The collateral for the loan includes the company’s intellectual property, so Madden could be in line for the labels it holds as licensee. Also included among the items securing the loan are “the borrower’s personal property, accounts, deposit accounts and cash, equipment, fixtures, general intangibles, goods [and] inventory.”
Looks like I’m not the only person the recession put in the doghouse.
LINK LOVE: The Cut
I stole my first pair of platforms from the Spice Bus in 1997 when Anglophilia was all the rage. Collector of vintage bags, vinyl and kitchen appliances. My dream of becoming a butcher is momentarily on hiatus so I can teach you how to wear muumuus and apply false eyelashes. Follow me on Twitter @CrystlMeatballs.