Prince, Head and Wilson. These classic brands, printed on the rackets of legends, have signified tennis for decades. Until now.

Earlier this month, tennis racket mogul Prince Sports Inc. filed for bankruptcy protection under Chapter 11, with as much as $100 million in assets and debts.

The Bordentown, N.J.-based company cited increased competition and economic decline led to its financial troubles. It expects to be taken over by Authentic Brands Group (ABG)-Prince LLC, who will dissolve their debt.

And just like that, the iconic “P” painted across millions of rackets has suddenly lost its worth.
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