Ouch. TMZ Sports is reporting that 50 Cent’s SMS Promotions, his boxing company, has filed for chapter 11 bankruptcy. Curtis started the company back in 2012 and signed some firepower like then-undefeated champion Yuriorkis Gamboa, James Kirkland and Olympic medalist Andre Dirrell, but it wasn’t enough.
Yesterday (May 25) the company allegedly filed documents in a Connecticut court that say the company owes somewhere between $100,000 and $500,000 in debt. Even though SMS just put on a fight in CT on May 15th, an attorney for SMS Promotions the company “looks forward to reorganizing as a new corporate entity and becoming one of the leading promotion companies in the world of professional boxing.”