Could Rocawear Be On The Verge Of Filing For Bankruptcy?

Could Rocawear Be On The Verge Of Filing For Bankruptcy?

Rocawear hasn't had much good press lately amidst reports of lay-offs and controversy surrounding the “Occupy All Streets” T-shirt. The latest news regarding the brand reports that it could be on its way to filing for Chapter 11 Bankruptcy. Founded by Damon Dash and Jay-Z in 1999, the brand has always been a hip-hop style staple. Since then, both moguls have sold their shares of Rocawear, with Jay-Z receiving the majority earnings by selling it to IconixGroup for a cool $204 Million back in 2007. Jay-Z no longer needs to promote the brand since his obligations have since expired. With the birth of his new daughter, Blue Ivy, he has other things to worry about.

[huffingtonpost]

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Tags: rocawear, jay-z, bankruptcy
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