Home Videos Photos Shop
PerezHilton CocoPerez Joe Jonas Taylor Swift Weinstein Twitter 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: , , , ,

Biggest U.S. Box Office Bombs Of 2017!
Celebrity Hot Spots Around The World!
The Biggest Kardashian/Jenner Business Fails!
Most Viral Movie Trailers Of All Time!
Summer Movies 2017 -- Winners & Losers!
Celebrities Who've Been Dropped By Major Brands & Retailers

Comments are closed.