(Getty)
Betsey Johnson (Getty)In two years, Betsey Johnson may be a Steven Madden Ltd. brand.
WWD reports that Steven Madden Ltd. has taken over a $48.8 million loan to Betsey Johnson LLC. If the debt is not repaid by August 20, 2012, Madden could end up owning all things Betsey—including her personal assets. Madden already holds a license for Betsey Johnson and Betseyville handbags, small leather goods, belts and umbrellas.
The news comes at an interesting time: Johnson will unveil her Spring 2011 collection on September 13. We hope to see Betsey in good spirits—it just won't be the same without her cartwheels.
See pictures from the Betsey Johnson Fall 2010 presentation:
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