Prince Sports received bankruptcy court approval to hold a final hearing May 24 on the reorganization plan the company submitted with its Chapter 11 filing last week. Under the reorganization plan, Prince will be acquired by Authentic Brands Group, which acquired the majority of Prince’s debt while the company was exploring the possibility of selling all or part of the company.
Authentic Brands, owned by Leonard Green & Partners, owns or licenses the intellectual-property rights for the estates of Marilyn Monroe and Bob Marley, as well as the mixed-martial-arts brand TapouT and clothing brand Silver Star.
