Prince Does Chapter 11
As you may already know Prince Manufacturing has filed for Chapter 11 Bankruptcy Protection in an effort to restructure it’s $60 million dollar debt. Anyone that has been around tennis for any length of time recognize Prince as a premier brand for almost forty (40) years!
I have no information but a couple of things come to mind that may have contributed to this situation.
One, a radical new construction now called “O” Port Technology. This technology created some issues with retailers and racquet stringers because some of them simply didn’t know how to string them. I know from first hand experience that retailers and stringers do have an influence on racquet sales!
Two, I saw a decline in the quality of sales personnel calling on behalf of Prince products. Prince, like many other manufacturers began using “independent sales representatives”. That means they can sell any non-competing product(s).
There are probably a zillion reasons it finally came to this. Prince intends to continue business as usual during this time, and I really hope they can recover and become the brand it once was.