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Read the press release here.

Designer Betsey Johnson Files for Bankruptcy

Betsey Johnson interviews with Morgan Flotteron and Emma Hobby, two young 'Kidsday' reporters.
Betsey Johnson interviews with Morgan Flotteron and Emma Hobby, two young 'Kidsday' reporters.
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DNAinfo/Elizabeth Ladzinski

MANHATTAN — Clothing designer Betsey Johnson, who brought hot pink petticoats to the masses, has filed for bankruptcy and will probably close most of her boutiques, Women's Wear Daily reported.

The offbeat designer has 63 stores around the country, including two on the Upper East Side, one in SoHo, and one on the Upper West Side at 248 Columbus Ave., near West 72nd Street.

Up to 350 employees could lose their jobs, according to Women's Wear Daily.