50 Cent’s boxing promotional company has filed for bankruptcy, but that does not mean the rapper is exiting the business.
According to TMZ, legal papers show 50 Cent’s SMS Promotions filed for bankruptcy in Connecticut court on May 25. 50 Cent’s company recently put on a fight card in Connecticut on May 15. The papers showed the company had debts of between $100-500K.
An attorney for the company says this is part of a strategy to reorganize the business as a stronger corporation.
While it’s clear 50’s company isn’t taking off the way he envisioned, I don’t think this means he is done.