News: Rick Ross Blames 50 Cent For Marc Ecko's Clothing Set-Backs, "Almost Put Him Outta Business" [Audio]
Thursday, Apr 16, 2009 3:30PM
Rick Ross recently cited 50 Cent as a fashion liability to Marc Ecko's clothing empire, which originally produced the G-Unit apparel line.
Speaking with radio personality Bodo, Ross detailed Fif's short-lived history with women and bad business ventures.
"The music ended his career," Ross explained. "The way he dress ended his career. He almost put Marc Ecko outta business. He f*cked Vivica Fox and ended her career as an actress. It's the truth, it's the truth. We just coming to make hot records, you know what I'm saying? That's how you kill the haters, you continue to be successful, you stay focused. That's what it is, I stay focused, grounded. I never forget the small people. I always go back to my community, you know what I mean? And they embrace it and to me, that's what's important. (Lunetz TV)
50's clothing line parted ways with Marc Ecko just over a year ago.
50 Cent's clothing company, G-Unit Clothing, has officially severed ties with its parent company, Marc Ecko Enterprises, it was announced Friday (February 8). Rumors swirled that the rapper's four-year-old clothing company was on its last leg with Ecko, and on Friday morning, staffers at G-Unit Clothing were notified that they would be let go. 50 would likely retain complete ownership of the brand and attempt to relaunch the line with another manufacturer. (MTV)
Marc Ecko's financial records recently emerged showing his company is nearly $200 million in debt.
Ecko has hired investment bank Peter J. Solomon to help refinance at least $170 million in debt. The debts are owed to a couple of important business partners. If he can't find a willing lender, Ecko may have to sell off some assets. Like many fashion outfits, the Marc Ecko brand took a hit during the past retail season. Sources say the company owes more than $100 million to Li & Fung, a global trading company that helps manufacture Marc Ecko products. He also also defaulted on a term loan of more than $70 million from a syndicate led by commercial-lending giant CIT and although he won forbearance on the loan, CIT will have to be paid by summer. (Luxist)
Aside from his current rap beef, Ross is scheduled to headline next month's Best of the Best International Music Festival in Florida.
Hosted by T-Pain, artists already confirmed for this year's blowout event include DJ Khaled, Rick Ross,Young Jeezy, Bounty Killa, Beenie Man, Mavado, Cocoa Tea, Serani, Wayne Wonder, Elephant Man, Matterhorn, Capleton, Jabba and Ras Penco.This widely anticipated 10-hour event will commence on Sunday, May 24th at Bicentennial Park (1075 Biscayne Blvd.) in downtown Miami. Gates open promptly at 1:00 pm, with the first performance beginning at 1:30 pm. (Hip Hop Press)
Ross' Deeper Than Rap hits retail stores Tuesday, April 21 via Def Jam.
Check out Ross' interview below:
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