*The above are a few of my favorite looks from the collection*

Betsey Johnson LLC filed for bankruptcy today, which will result in closing its 63 free-standing stores and letting go of about 350 staffers.

Designer Betsey Johnson will stay on as the brand’s creative director and continue to sell her lower-priced label at Macy’s and other retailers. A liquidation firm will be appointed to help close Johnson’s free-standing boutiques in the upcoming weeks.

CFOJonathan Friedman wrote in a release:

“The decision to seek protection under chapter 11 comes after months of rigorously pursuing alternative restructuring arrangements to address Betsey Johnson LLC’s cash flow problems. After exhausting our resources and possibilities, it became apparent that neither a restructuring arrangement with a new equity investor nor a sale of the business enterprise as a going concern outside of bankruptcy was to be forthcoming. Accordingly, our board made the determination that a Chapter 11 store closing process will likely be the best way to maximize the value of the company’s assets, for the benefit of its creditors.”

[WWD]

 ”Betsey + Lulu” will follow the mother-daughter pair around their day-to-day lives in Manhattan according to Lucky, and focus on how “single mother Lulu wants to launch her own fashion label and finally step out from Betsey’s shadow.” Betsey and her daughter are slated to arrive on the Style Networklater in the year.

*The above are a few of my favorite looks from the collection*

Betsey Johnson RTW Fall 2011

Equally invigorating as Betsey Johnson herself are the collections she presents which continue to embody the spirit of youth, fun and devil-may-care. “He loves me, he loves me not” was the theme this time around and it was done in that tried and true Betsy style with references to punk, Edwardian, goth, hippie, rock ‘n’ roll and everything in between. Psychedelic colors met bold prints on cute motorcycle jackets, tight tops, clubby draped pants and pouffed skirts. Overstimulation is unavoidable with Johnson, but it’s what keeps us coming back for more.

*The above are a few of my favorite looks from the collection*

http://www.wwd.com/fashion-week/fall-ready-to-wear-2011/review/betsey-johnson-rtw-fall-2011-3490611?city=new-york