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Betsey Johnson Files for Bankruptcy, But Don't Worry, She's Still Doing That Reality Show

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Betsey Johnson, via Getty
Betsey Johnson, via Getty

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Regardless of how you feel about her aesthetic, it's really hard impossible not to love Betsey Johnson's unbridled enthusiasm for all things fashion, fun, and girly. So it comes as sad news that the 34-year-old fashion line has filed for bankruptcy protection, and even sadder news that the filing will likely result in the dismissal of 350 employees and the closure of most, if not all, of the brand's 63 stores. The upside is that this isn't the last we'll be seeing of the designer—not by a long shot. After the jump, what the news means for you, us, and anyone else who's still hoping for a future bright with Betsey cartwheels.

1. First of all, this news doesn't appear to be affecting the brand's e-commerce store, which, along with the rest of the Betsey Johnson brand, has been owned by Steve Madden Ltd since 2010. According to Forbes, existing orders will still be produced and ship on time. Steve Madden also told WWD that "there will be no interruption in e-commerce, and that “it will seamlessly integrate into our infrastructure.”

2. Happily, the bad news is also not affecting Fashion Week. WWD says the designer is going forward with her plans to have a runway show in New York next September.

3. You'll still be able to find the lower-priced Betsey Johnson label (as opposed to the designer-priced Betsey Johnson Collection line) in stores like Macy's, where it appears to be selling well. Forbes reports brand's wholesale business "is up over 50 percent so far for 2012.” Also, Madden told WWD that he aims to have "four or five Betsey Johnson flagship-type stores in New York, Los Angeles and other key cities."

4. And don't worry, that reality show is still happening, too. Johnson will start filming “Betsey + Lulu,” with her daughter (Lulu) in late July, and she tells WWD that she plans to make it "relevant, deep and interesting about fashion rather than about gossip, girls, makeup and hair."

5. Finally, if you'd like to add some Betsey to your collection, now is definitely the time. Store-closing sales are expected to begin shortly in the middle of May and should run through the end of July, according to WWD.

And how's Betsey handling all this? With her usual positive energy and outlook, of course. She'll remain creative director of the brand and continue to oversee the design of her sportswear, accessories and various licenses. "You know, as you get older, you really want to go back to that idea of happy—happy, productive," she told Forbes. And more power to her.

· Betsey Johnson Unit Files Chapter 11 [WWD]
· Gird Your Television Sets: Betsey Johnson Is Getting A TV Show [Racked]
· All The Pink, Lace, And Frill Of Betsey Johnson Is Now Affordable [Racked]