Betsey Johnson Files for Bankruptcy‎

Betsey Johnson, the New York City design veteran whose punk-ballerina party dresses are beloved by teens and spunky pop stars alike (Britney Spears was allegedly considering Johnson to design her wedding gown) is filing for Chapter 11 bankruptcy. As a result, WWD reveals, the majority of her line's freestanding boutiques will close down by July, meaning 350 or more workers will lose their jobs.
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