Betsey Johnson stores to close

Colourful fashion designer Betsey Johnson's stores are to close after company bosses filed for bankruptcy on Thursday (26Apr12).

Sources tell Women’s Wear Daily that Johnson will remain the head of the firm, which she launched in 1978, but 350 staff will be out of work next month (May12).

Meanwhile, the designer is set to become a reality TV star - she and her daughter will front new series Betsey + Lulu.