Betsey Johnson Store At Tanger To Close

The store at in Deer Park will soon be vacant following the recent announcement that the fashion designer’s company filed for bankruptcy protection and will close most of its 63 stores.

According to a recent report in the Wall St. Journal citing court documents, the company was in the final stages of a deal to sell its assets earlier this month when the would-be buyer "abruptly" backed out of the deal.

A Forbes report indicated that 350 employees would “likely” lose their jobs as a result of the store closures. The report also said that the company has “severe liquidity problems” and $4.1 million in outstanding unsecured obligations to various vendors, manufacturers and service providers.

While fans of Johnson’s fashions will not be able to buy her designs at Tanger, the company said her clothing would still be sold at Saks Fifth Avenue. Bloomingdales and Nordstrom along with a handful of flagship locations.