Betsey Johnson defaulted on a $50 million loan. Steve Madden bought the debt, and as collateral, Johnson put up all of her company's intellectual property — every design, every idea, everything that makes the brand its lovable pink-punk self.
Police arrested a 47-year-old man at Nick Knight's SHOWstudio for trying to sell an unusual prop: this giant stuffed Bengal tiger, which was once a prop for an Alexander McQueen shoot. The tiger, an endangered species, lacked papers. [Daily Mail]