This could be the end of Betsey Johnson as we know her. The eternally youthful 69 year-old designer's licensing company filed for Chapter 11 bankruptcy protection.
In 2010 the label was financially rescued by shoe magnet Steve Madden but its cash flow problems continued to persist. Betsey Johnson LLC will close nearly all of its stores and lay off an estimated 350 staffers. The last word from Johnson is that she is still far from giving up and is planning on staging her runway show in New York for the next fashion week. She also has a reality show in the works.