As you may have heard—Betsey is bankrupt! Well, not Betsey exactly. Neither the brand nor its eccentric creative director is involved, but the licensing firm that operates Betsey Johnson boutiques filed Chapter 11 a little more than two weeks ago. While this is unfortunate news for 54 BJ boutiques and 9 outlets around the nation, it seems there’s a silver lining for loyal Betsey shoppers. For a cool $5.2 million, two retail liquidation firms have partnered to take the remaining inventory off the hands of the shuttering shops. A major going-out-of-business sale began last Friday and will run until all merchandise has been sold.