Apprentice Winner Embroiled in Bankruptcy Issue


Bill Rancic, the winner of the popular ‘The Apprentice’ reality TV program, is embroiled in a real life bankruptcy saga of his own. Synergy Brands Inc., a company in which Rancic is a director, filed for Chapter 7 bankruptcy protection in Central Islip, NY. Rancic’s entry into the board of directors came about after Synergy acquired his ‘Cigars Around the World’ business.

The assets of Synergy Brands and its two subsidiaries, PHS Groups Inc and Inc are expected to be liquidated. The company also expects the bankruptcy court to appoint ‘one or two more trustees’ to take charge of their case. Another subsidiary of Synergy, Quality Food Brands Inc. is not filing for bankruptcy and will continue business as usual.

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