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Most people don't go around celebrating filing for Chapter 11 bankruptcy, but when you're Betsey Johnson it does!
Shortly after news broke on Thursday, the entire Betsey Johnson design team celebrated
[Image via Jeff Grossman/WENN.]

Whaaaaa???
Betsey Johnson sent the fashion world into a tizzy on Thursday when news broke that her licensee filed for Chapter 11 bankruptcy.
As a result of the filing, a majority of BJ's 63 stores will shutter starting next month and more than 350 employees are expected to lose their jobs.
Yikes!
Betsey said
[Image via Chris Connor/WENN.]

Betsey Johnson's headed to the small screen!
The Style Network announced this week the eccentric designer will co-star alongside her daughter and muse Lulu in a new reality show titled Betsey + Lulu.
The show, airing later this year, will not only follow the mother-daughter duo around New York City, but also document Lulu's attempt to launch her own clothing label.
As long as there's a lot of Betsey, we're sure it'll be very entertaining.
Will U be watching???
[Image via Andres Otero/WENN.]

Betsey Johnson has just unveiled her newest collection of nail colors.
The one that has everyone talking is the Too Too scented It's My Pink polish. Fusing her favorite shade with her signature scent, we know Bets must be on a speckled, cotton candy cloud nine right about now.
The flirty bottle sells for $9.50 through Sephora by OPI.
Will UR nails be smelling like Betsey??

Kristin Cavallari may not be able to fit in her jeans, but that didn't stop her from making the rounds at New York Fashion Week.
Earlier this week the preggers reality star
[Image via Mavrix Online.]