Betsey Johnson Going-Out-of-Business Sale Starts Tomorrow

BOSTON and CHICAGO, May 10, 2012 /PRNewswire/ -- Going-out-of-business sales start tomorrow, Friday, May 11, at all Betsey Johnson retail stores throughout the U.S., Canada and the U.K. and will continue until all merchandise has been sold. Betsey Johnson, known for her iconic designs and use of bold color, opened her first retail store 30 years ago in New York City and soon expanded internationally.

During the going-out-of-business sale, consumers will find incredible savings of 20-50% on all Betsey Johnson apparel, jewelry, handbags and shoes. All store fixtures such as apparel racks, shelving and lighting are also available for sale.

"While the sales are ongoing, Betsey Johnson customers are still our main priority. We hope that they use this opportunity to find great discounts on all of the latest Betsey Johnson fashions," said Jonathan Friedman, Chief Operating & Financial Officer of Betsey Johnson LLC. "I recommend that customers shop early so that they can take advantage of the sale, as merchandise will not be replenished once it has been sold."

All Betsey Johnson stores will honor gift cards until June 1. All sales made on or after Friday, May 11, 2012 are final. Going-out-of-business sales are taking place at all 54 U.S. Betsey Johnson stores and at all nine Betsey Johnson outlets.

Gordon Brothers Group and Hilco Merchant Resources are jointly running the going-out-of-business sales on Betsey Johnson's behalf.

Betsey Johnson is represented in its Chapter 11 case by Goulston & Storrs, P.C. and Togut, Segal & Segal, as counsel, and Richter Consulting, Inc., as financial advisor.

"Discounts on this brand are uncommon so we expect merchandise will sell out quickly. We strongly encourage customers to shop early while the greatest selection of sizes and designs are still available," said Robert Grosskopf, Principal & Managing Director, Retail Division, Gordon Brothers Group and Michael Keefe, President & CEO, Hilco Merchant Resources, in a joint statement.

Visit www.betseyjohnson.com for additional sale information and location listings.

About Gordon Brothers Group

Founded in 1903, Gordon Brothers Group (www.gordonbrothers.com) is a global advisory, restructuring and investment firm specializing in the retail, consumer products, industrial and real estate sectors.  Gordon Brothers Group maximizes value for both healthy and distressed companies by purchasing or selling all categories of assets, appraising assets, providing debt financing, making private equity investments, and operating businesses for extended periods.  Gordon Brothers Group conducts over $50 billion in transactions and appraisals annually.

About Hilco Merchant Resources

Based in Northbrook, IL, Hilco Merchant Resources (www.hilcomerchantresources.com) provides high-yield analytical, operational, asset monetization, capital investment and advisory services to help retailers define and execute their strategic initiatives.  Activities fall into seven principal categories: acquisition or disposition of duplicative or underperforming stores; retail company or division wind downs, event sales to convert unwanted assets into working capital; facilitation of mergers and acquisitions; interim company, division or store management; loss prevention; and, monetization of furniture, fixtures and equipment.  Over the years, Hilco principals have disposed of assets valued in excess of $150 billion. Hilco Merchant Resources is part of the Hilco organization, a provider of asset valuation, acquisition, disposition and advisory services to an international marketplace through twenty specialized business units. Also headquartered in Northbrook, IL, Hilco maintains offices in major business centers throughout North America and Europe. For more information please visit: (www.hilcotrading.com).

NOTE TO EDITORS: STORE LOCATION LIST FOLLOWS

SOURCE Gordon Brothers Group