50 cent Boxing company goes Bankrupt

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Huge blow for 50 Cent’s boxing
company SMS Promotions — TMZ
Sports has learned the rapper’s
company has just filed for
bankruptcy … though it vows to stay
in business. 50 started SMS
Promotions back in 2012 … and
signed some pretty big names in the
sport, including then-
undefeated champion Yuriorkis
Gamboa, James Kirkland and Olympic
medalist Andre Dirrell. But
apparently, the boxing biz hasn’t
been as kind to 50 as it has been to
others like his pal Floyd Mayweather
… because according to court docs
obtained by TMZ Sports, the
company filed for Chapter 11 on May
25th. In court docs filed in
Connecticut, SMS says it has
between $100k and $500k in debts.
SMS just put on a fight in
Connecticut on May 15th — though
it clearly wasn’t enough to turn the
company around. An attorney for
SMS Promotions says 50 — aka Curtis
Jackson — made the decision to file
so the business could reorganize
and emerge as a stronger company.
“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.”