The usually-cheery fashion house of Betsey Johnson is facing some dismal news. The company filed for bankruptcy today, and big (unfortunate) changes will be coming to the brand.

Betsey Johnson has 63 stores across the world...and most of them will be closing within the next few weeks. This means that an expected 350 employees will be let go. Betsey herself (who is almost 70!) will keep the position of creative director, though that can't be an easy title to have right now. [via Fashionista]

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