Following Thursday's news that the brand filed for Chapter 11 bankruptcy comes word from Elle that Betsey's design team was also fired yesterday and sent off into the unemployed world with champagne and cupcakes. But they weren't the first ones to go; fifteen full-time staffers and freelancers were canned a month and a half back, and "as of two weeks ago we weren't allowed to spend any money — we couldn't buy trims, fabric, send out samples to be made domestically or abroad," a source said.
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