Jay-Z’s RocaWear Is Bankrupt According To Creditor Suing For $450,000 In Merchandise Not Paid For

Jay-Z

The bad business acumen of rapper Jay-Z strikes once again. Jay-Z, who has a string of failed businesses, is in legal hot water over his Rocawear clothing label, which he forced former partner and founder Dame Dash out of, taking full credit for his brainchild.

Rocawear has been sued this month by clothing manufacturer iSource of New York. The company had $1,000,000 in clothes made in Pakistan for Rocawear, who accepted the shipment and put the items on store shelves, but refuses to pay iSource the full amount, only remitting $500,000. As a result of the thievery, iSource has filed suit against Rocawear in Manhattan Supreme Court.

Jay-Z is struggling to keep up appearances, as business after business fails. While the sub par Rocawear line is widely available on store shelves, it simply has not been doing well...at all. Availability does not mean sale ability.

STORY SOURCE

Jay-Z’s outfit is a ‘deadbeat’

Last Updated: 5:06 AM, June 12, 2013 - Jay-Z is a rap mogul worth around $500 million — but his clothing brand Rocawear is in the red, a lawsuit claims. The apparel group allegedly owes $450,000 to wholesale company iSource NYC for urban-style duds made in Pakistan and shipped to New York last April through June, the Manhattan Supreme Court filing states.

The clothing items "were specially ordered goods . . . [with] the ‘Rocawear’ brand name imprinted on [them]," the Garment District company claims in the suit. "Defendant never returned the ROC goods to iSource." Rocawear paid for about half of the $1 million order, but has yet to cough up the balance, the suit alleges, and iSource wants the rest of the money plus 9 percent interest — because the bill was due last Summer.

http://www.nypost.com

Jay-Z Lays Off Half Of Rocawear's Staff As His Other Businesses Fail As Well

Cash Flow Problems And Closed Clubs Sees The Rapper Faking It To Pretend He Is A Successful Businessman

Jay-Z and Beyonce Knowles

Rapper and philanderer, Jay-Z, has fired 28 people, half the staff of his Rocawear clothing company that he stole from former partner, Damon Dash, then sold portions of to unwitting investors. The latter was pushed out of the company by the former, for next to nothing in compensation, after Dash started the company. Jay-Z knows nothing about fashion. He has a horrible fashion sense. Now he has driven the company into the ground.

Jay-Z loves to refer to himself as a entrepreneur, a word he can't even pronounce correctly judging by an online video, yet his business ventures, most of them stolen, consistently fail. He has faced the closure of a number of covetous businesses he set up. That says it all. He constantly overstates his net worth and that of his companies, as does his equally thieving wife, Beyonce Knowles.

They are in over their heads and do not know what they are doing. He is a hoodlum and common thug, pretending to be a mogul, when he is far from it. She is a narcissistic, fame obsessed, mentally ill, illiterate singer, constantly stealing preexisting copyrighted songs and music videos, in criminal violation of the law, to support their lavish lifestyle. They have bought into their own hype and the lies in their bios their publicists push on the world.