Betsey Johnson Is Bankrupt

April 28, 2012

Funky American fashion designer Betsey Johnson has filed for Chapter 11 bankruptcy and will be closing almost all of her stores and laying off approximately 350 employees.

According to the Huffington Post, Betsey Johnson LLC has been having financial troubles for a while now and won’t be able to continue producing her high-end line of women’s apparel. But on the plus side, Betsey, 69, will continue producing her cute sportswear line and accessories.

Betsey is also still planning on having a fashion show in September and she is working on her own reality show.

This news makes me a little sad because I absolutely love Betsey Johnson, but I really hope she bounces back. Let’s face it, the economy sucks and Betsey Johnson is probably not the only designer suffering in this economic downturn. People simply can’t afford to shop as much as they used to. If anything, Betsey may be the first of many fashion designers to fall. Who will file for bankruptcy next?

Anyway, Betsey Johnson is having a huge sale on her website, so check it out and pick up some of her cute designs now!