Home Videos Photos Shop
PerezHilton CocoPerez Hillary Clinton LiLo Mariah Carey T.Swift PerezTV

Steve Madden Help$ Out Betsey Johnson

| Filed under: Business BlitzBetsey JohnsonSteve Madden

betsey_steve_e.jpg

There's good news and bad news for Betsey Johnson.

On Thursday, papers were filed with the Securities and Exchange Commission that Steven Madden Ltd. will take over the $48.8 million loan BJ has defaulted on.

However, if Betsey can't pay back the copycat by August 20, 2012 Madden could end up owning the brand because the company's intellectual property was used as collateral to secure the loan.

Other items used as collateral include "personal property, accounts, deposit accounts and cash, equipment, fixtures, general intangibles, goods [and] inventory."

Wow, that's a lot to lose.

Lets hope she can pay it back!

[Image via Flashpoint/WENN.]

Tags: , , , ,

She-E-Os -- The Baddest Boss B*tches In The Game
Here Are All Of The Celebrities With Emojis!
2016 Movies That Are Going To FLOP!
All The Times Donald Trump Failed At Business!
25 Hottest Christmas Toys Through The Years!
15 Biggest Box Office Flops Of 2015!

Comments are closed.