SBD/20/Finance

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  • SCORE BOARD FILES FOR CHAPTER 11 DUE TO SOFT CARD MARKET

              NJ-based Score Board Inc., "faced with weak sales in a
         sports-card industry that never fully recovered" from the
         MLB strike, has filed for Chapter 11 bankruptcy protection,
         according to Dean Starkman of the WALL STREET JOURNAL.  Neal
         Colton, a lawyer for the company, said that Score Board "has
         been hurt by a contraction in the market for sports cards, a
         result of both the baseball strike and of a glut of sports
         memorabilia in general."  Score Board "defaulted" on a $4M
         secured credit line with Congress Financial Corp., among
         other debts (WALL STREET JOURNAL, 3/20).
    
    

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