Prince File for Bankruptcy in the USA

by The Insider on May 8, 2012 · 0 comments

in Random

Prince Sports Inc has filed for bankruptcy protection in the USA for around $100 million. This is a big hit for Prince and they blamed declining demand and increased competition over the past five years.

Prince, the exclusive licensee of the All England Club for Wimbledon-branded rackets, racket bags and accessories, was bought in 2007 by Providence, Rhode Island-based buyout fund Nautic Partners LLC.

Prince today said its subsidiaries outside the U.S., including those based in Europe, Taiwan and China, are not subject to the proceedings and “are expected to operate in ordinary course.”

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