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SCORE BOARD FILES FOR CHAPTER 11 DUE TO SOFT CARD MARKET
Published March 20, 1998
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).