Former NBA Superstar Derrick Coleman has filed for bankruptcy.

According to court documents, the former Detroit Pistons player is over $4.7 million in debt. Coleman listed $1 million in assets, including a $50,000 Bentley automobile, five fur coats, and his $168,000 home in suburban Beverly Hills.

In the bankruptcy filing, Coleman says he plans to surrender other properties he owns. The ex-basketball player was forced to close his upscale ‘Sweet Georgia Brown’ restaurant in downtown Detroit because he was unable to pay rent. In the bankruptcy petition, Coleman blamed the poor economy for the restaurant’s failure.

Coleman has been named in a lawsuit filed by the Detroit Economic Growth Corporation, claiming he defaulted a $200,000 loan on another business venture.

If you need legal counsel in regards to personal finances or are seeking advice when it comes to filing for Chapter 13 or Chapter 7 bankruptcy, contact the New Orleans bankruptcy attorneys of the Law Office of David D. Kervin, Jr., at 504-599-5906.