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Prince Sports Files For Bankruptcy; Salter May Now Own Debt

Prince Sports and its U.S. affiliate businesses today announced that they have filed for Chapter 11 reorganization in U.S. Bankruptcy Court in Delaware. The filing included a plan for reorganization, through which Prince hopes to develop a more competitive business model (Prince Sports). Sources last week said that Prince's debt "has been scooped up on the cheap" by investor Jamie Salter. He reportedly "aims to seize control" of the company "and rehabilitate the business, which took a beating after weathering the recession under a heavy debt load" (NYPOST.com, 4/25).

SBJ Morning Buzzcast: April 25, 2024

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