Betsey Johnson sent the fashion world into a tizzy on Thursday when news broke that her licensee filed for Chapter 11 bankruptcy.
As a result of the filing, a majority of BJ's 63 stores will shutter starting next month and more than 350 employees are expected to lose their jobs.
"I feel so sad for my store people and all my pink girls. They live and die for me. But I need to be better. I really need to work well and be more efficient."
Despite the major changes, the cartwheeling designer will remain as the brand's creative director, with her primary focus being on the moderately-priced Betsey Johnson line sold at Macy’s.
Betsey also plans to hold a runway show during fashion week in September to show off the affordable frocks under the new BJ "vision".
Sounds like a good plan to us and we certainly hope it works!
Now only one question remains: will any of this be shown on her upcoming reality show!?!?
[Image via Chris Connor/WENN.]