My childhood hero, the cartwheeling, forever young, fabulous Betsey Johnson has filed for bankruptcy. I am assuming the fact that her shit is hella expensive and the economy doesn’t support her prices put her company on a downward spiral. Even in the ’80s a dress was $300, and when your demographic is in the 18-34 age group, that doesn’t fare well. The majority of her Betsey Boutiques will close down, leaving more than 350 people jobless. Betsey, however, is forging ahead, so don’t go crying for her. Read the details here.