Tennis Racket Maker Prince Sports Files for Bankruptcy
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Prince Sports Inc. sought bankruptcy protection citing as much as $100 million each in assets and debts, and the maker of the first oversize tennis racket plans to change its business model to become more competitive.
Among the largest unsecured creditors listed in the Bordentown, New Jersey-based company’s 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.