Prince Sports, Tennis Racket Maker, Files for Bankruptcy

Prince Sports Inc., a pioneer maker of tennis gear, sought bankruptcy protection citing as much as $100 million each in assets and debts, and said it plans to revise its business model to make the company more competitive.

Among the Bordentown, New Jersey-based company’s largest unsecured creditors listed in Chapter 11 documents filed today in U.S. Bankruptcy Court in Wilmington, Delaware, were Da Sheng International Holding Ltd. of Taiwan and Pais International Ltd. and Marshal Industrial Corp., both of Hong Kong, each owed more than $1.9 million in trade debt.

Decline in market demand “combined with increased competition over the past five years” and a decrease in “consumer discretionary spending” led to the bankruptcy, said Gordon Boggis, chief executive officer, in court papers.

He said the company plans to cancel secured debt in exchange for new equity as part of its reorganization plan.

The case is In re Prince Sports Inc., 12-BK-11439, U.S. Bankruptcy Court, District of Delaware (Wilmington).

To contact the reporter on this story: Phil Milford in Wilmington, Delaware, at

To contact the editor responsible for this story: Michael Hytha at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.