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The Hip Hop business can a be a fickle one. Damon Dash faces multiple foreclosures as well as the loss of the rights to Stride Rite Corps' Pro-Keds brand of shoes.

The Hip Hop Icon known for starting Roc-A-fella Records with rapper Jay-Z has apparently fallen on hard times. The former head has allowed Stride Rite Corp. to reacquire the rights to the Pro-Keds brand as he faces the foreclosure of two NY area properties.

In 2004 Dash purchased the Pro-Keds licensing rights from Stride Rite for an undisclosed amount, but since leaving the label several of his ventures have struggled. He had a short lived reality show called Ultimate Hustler that only lasted a season and his own record label has had trouble getting off of the ground.

The news of his resale to Stride Rite comes on the heels of reports from local papers that he and his wife Rachel Roy owed a reported $7.3 million in payments for two Manhattan apartments. Eastern Savings Bank has apparently filed suit against Dash for failing to make his payments on the two properties. The payments topped a reported $78,500 a month.

The Stride Rite Company is wasting no time attempting to make major moves with their retained property. They plan to relaunch the new Pro-Keds line in November. Styles such as the Royal and Court King are set to be updated with new materials and colors. The company will also launch limited editions in a few months.

This is not the first time Dash has been in financial trouble, he apparently owed the NY Tax Board some 2 million dollars in back charges.