Economic Crisis Hits the Playboy Mansion: Hugh Hefner Facing Bankruptcy

You know the economy has definitely reached crisis level when Playboy billionaire Hugh Hefner is being told to tighten his purse strings or face bankruptcy.

Amid the plummeting Dow, Playboy saw it's shares drop from $11.23 to $2.81, and Hef has been told to cut much of his staff at the New York and Los Angeles offices as soon as this month or go bankrupt.

According to an insider, "Only the top brass has known for a while how bad things have been for Hef recently."

The news comes on the heels of rumors of the impending exits of girlfriends Holly Madison and Kendra Wilkinson. Photos of Hef's number one gal getting cozy with magician Criss Angel in Las Vegas sparked rumors of an affair, then Hef's youngest girlfriend was seen out and about with Philadelphia Eagles Hank Baskett III, whom she calls her "hero" on her Myspace page, along with "HB3 in LOOOOVVVVEEEE!!!!!! "

There has recently been a bit of discord among The Girls Next Door, with both Kendra and Holly taking their grievances to Myspace.

Adding to tension in the Mansion are reports that Hef has become smitten with buxom brunette, Dasha Astafieva.

And the staff cutbacks? Spokeswoman Elizabeth Austin would not confirm the layoffs, saying: "It is our policy not to comment on corporate matters such as employee issues."