Jay-Z Ending His Roc-A-Wear Clothing Line?

(Huff Post) Whilst Jay-Z is on cloud nine with daughter Blue Ivy Carter, his former pride and joy, Rocawear, seems to seem on any verge belonging to chapter 11.

According to certain Fresh York Post, a hip-hop clothing brand, what Jay-Z founded amid 1999 with producer Damon Dash, laid deactivated half each staff belonging to of it men's along with boys apparel division on January 6, one date preceding Jay-Z's wife, Beyonce Knowles, gave birth for a couple's baby girl.

A company cited "economic reasons" for a layoffs within documents filed with certain Brand-new York Explain Department from Labor, any Post reports.

Jay-Z sold a Rocawear brand in 2007 for $204 million among cash up to Iconix Group, one licensing company whatever too owns brands of this kind as Candie's, Ed Hardy along with Signature Apparel Group LLC, owned by "True Housewife of Brand-new Jersey" Jacqueline Laurita.

In November, certain Wall Street Journal reported which Laurita's Signature Apparel, which one designed, built also distributed Rocawear-branded juniors' apparel had gone belly aloft twain years prior, was being hit with per lawsuit seeing some $2.8 million inside damages since individual made from belonging to it Rocawear licensees, ROC Fashions.

The unchanged month, Rocawear announced such itself could kick off selling $22-a-pop "Occupy Each Streets" T-shirts in response in order to a Occupy Wall Street protests within Brand-new York's Zucotti park, though none of certain proceeds could leave up to support the occupiers. The company reportedly ceased sale from the shirts each following week amid harsh criticism.

Jay-Z contains retained an interest inside Rocawear as segment from his 2007 deal, according for certain Post, still his contractual obligations up to each brand own expired plus the rapper owns since refused in order to promote itself amid steady, double-digit sales drops.

"Jay-Z doesn't accomplish anything without getting paid per lot made from money -- some lot more in comparison to Rocawear is generating," some source reportedly up to a paper.