Is Rocawear Going Bust?
Fashion & Beauty

Is Rocawear Going Bust?

(Image: File)

jay-z smilingThe Iconix Group, which purchased Rocawear for $204 million from Jay-Z and Damon Dash in 2007, has hit a financial bottom.

The urban clothing line once racked up $700 million in annual sales, but has recently fallen off. Reportedly, Jay-Z doesn’t even wear the clothing anymore.

A New York City wholesaler is now suing the label over a six-figure debt.