|Designer Betsey Johnson|
The announcement of the Betsey Johnson brand going bankrupt is another sign of how difficult economic times have been over the last few years. The designer, known for her free-spirit, creativity and her infamous cartwheels on the runway will be liquidating the majority of her retail shops. An estimated 350 employees will lose their jobs at the beginning of May. Since 1978 she has dazzled the industry with her whimsical dresses, bright colors, wild patterned dresses, polka-dots and stripes.
Johnson will still remain at the head of creative design as she continues to push the label which is also sold at stores like Macy's. The focus will be on the lower priced collection which reaches the masses.
This comes at a time when 69-year-old Johnson is set to star in her own reality show with her daughter on the Style Network called 'Betsey + Lulu'.