Everyone has it bad during the current economic downturn, but some may have it even worse than others. That includes professional athletes who made really made forays into the world of free enterprise. If you had Derrick Coleman on the list of former ballers turned failed entrepreneurs that popped into your head, pat yourself on the back; ol’ DC is going out of business, literally.
According to FANHOUSE’s expert sleuthing, the former would-be star turned uber-bust is having to liquidate everything he owns. Yes, everything, at a whopping 75 percent off. It’s like one of those “electronic liquidation events” you see advertised at “Enter Your City’s Convention Center Here” every weekend, except everything was once owned by one of the biggest NBA Draft flops in recorded history. Just think, you too can own the porcelain toilet from Derrick Coleman’s spare bedroom! And it’s 75 percent off! What a steal!
Coleman’s attempt to build a personal Foot Locker-like empire has officially failed horrifically, with his Snyx company domain failing to re-up its license. Snyx was Coleman’s attempt to give back to the Detroit and Southside Chicago communities, with the store holding down one of the main spots of a mall in a Detroit neighborhood that desperately needed development. Still, while that may speak to Coleman’s philanthropic side, it certainly doesn’t say much about his business acumen.
In fact, trying to start any company on the south side of Chicago probably isn’t the best idea under any circumstances, when you think about it. Unless you have substantial funding from an outside source yet discreetly federal source whose name starts with a “B” and ends with a “lagojevich”. He’s easy to get on the phone.
For Coleman, this has probably been coming for a long time, so we really shouldn’t be surprised. In fact, knowing DC’s modus operandi, the stores probably sold decently well — just as his near 17-10 career averages were perfectly respectable in his playing days — yet in the end, it just didn’t add up to anything more than disappointment.