After months of brainstorming solutions and plan revision, Betsey Johnson LLC has exhausted all of their resources and, we are sad to say, have filed for bankruptcy. Within the next few weeks the brand known ‘round the world will be closing its 60-some freestanding stores and letting go of over 300 employees.

Though we are sad to say goodbye to the eccentric fashion shows Betsey Johnson has been putting on for years and years, we are happy to say that this is not the end of Johnson all together! The creative director will still be overseeing all of her moderately priced designs sold in Macy’s, as well as her jewelry line, Betseyville. WWD even reported the possibility of a reality show in the making.

Betsey Johnson is a brand recognized by most for its bright colors, animal prints, frill and fun. The NYC fashion icon has made an imprint on the style scene bringing in bubbles, laughter and stories of fashion “back in the day."  She shows utter determination in keeping her brands alive and if the 69-year-old's catwalk cartwheels are an indicator, this fashion icon will stay strong for years to come. Although chapter 11 of this brand’s story is going to be a tough one, we can only hope the next chapter of Betsey Johnson LLC will have a positive outcome!