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Bye Bye Bacon

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All good things must come to an end, even if those things are glittery, floral and perfect for prom. Chantal Bacon, CEO of Betsey Johnson LLC, has officially exited the company after working alongside the designer for 30 years. Or, to give their insanely long friendship some historical context, since they were palling around together downtown with Andy Warhol. The news follows last month's announcement that Steve Madden Ltd. could own the company, its assets and the belongings of both Johnson and Bacon if loans are not repaid by 2012. [WWD, subscription req'd]