GRAND RAPIDS, MI – Enterpreneur Mark Sellers has seen a lot of success in recent years as CEO of Barfly Ventures LLC, the Grand Rapids-based company which owns a growing string of popular Hopcat bars in college towns throughout the Midwest.
But Sellers' early investment in Premium Exhibits Inc., a company that owns and exhibits artifacts of the RMS Titanic, which sank in 1912, and other attractions, have been sinking fast in recent weeks.
The Atlanta-based company's stock price fell to 20 cents per share – down 17 cents, or 45 percent -- in trading on Wednesday, June 15, after the company announced it was entering Chapter 11 bankruptcy.
It's a big fall from 2007, when the company's shares were trading in the mid-$16 range. Sellers, then a Chicago-based hedge fund manager, was buying as the company rode high on the success of "Bodies Revealed," an exhibit of preserved human bodies and body parts.
After a dispute over the direction of the company, Sellers emerged as one of the company's largest shareholders and its board chairman.
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