Cipriani Wall StreetAccording to Crain’s New York, Marc Ecko, owner and designer of Ecko Clothing, (AKA every backpacker’s true apparel) is feeling the worldwide effects of the economic crunch as well.

The brand’s drawbacks include Ecko’s office space—which includes a basketball court and is 275,000 square feet—and costs $9 million a year is now on the market.

In addition, Marc Ecko Enterprises is trying to pay off its debts. Ecko sold his watch trademark to Timex last month, and also relinquished his Avirex brand to Kids Headquarters.

Further more, Ecko also closed an outlet in New York’s Times Square and closed down a Cut & Sew boutique.

At one time, the brand hailed as the official uniform for real MC’s and fans alike, but with the ever-changing fashion market, lack of customer loyalty, and a crippling recession; looks like Ecko is headed into hard times also…

Maybe he can sell Barry Bonds’ 756th record-breaking homerun baseball he bought for $752,476.00 in an online auction two years ago, and salvage some of his debt.

That’s probably a purchase he wishes he could take back—especially now…