News: 50 Cent Company Files For Bankruptcy

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50Cent

50 Cent is no stranger to the business world but recent reports suggest that even tremendously successful people can take major hits. 50’s boxing company, SMS Promotions, has filed for bankruptcy. Court documents out of Connecticut confirm that the company has incurred between $100K and $500K in debt. One of 50’s reps verified the filing but asserted that it was a move for the company to reorganize,

The filing allows the company to reorganize in an effort to protect its investment in worldwide boxing promotion and a promising stable of talented, young fighters

An attorney for SMS followed up with similar sentiments,

Under the direction of Mr. Jackson, SMS Promotions looks forward to reorganizing as a new corporate entity and becoming one of the leading promotion companies in the world of professional boxing.

Given 50’s savvy for business, we’re sure SMS won’t be down for long.

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About @Lee_Carrie

University of Pennsylvania grad just trying to make it. Music lover with a soft spot for hip hop. "Ambition is priceless it's something thats in your veins." -Wale

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