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Немного не так, Huffy намерен купить оптом обоих за 60 млн,


Entered by + on July 20, 2001 at 23:08:32:

В ответ на: Кстати, на сколько я слышал их так до сих пор и не продали... отправлено Rain on July 20, 2001 at 21:27:19:

хотя в своё время, каждый стоил по $60 млн. За 2 года подешевели вполовину...

Huffy Poised To Snap Up Schwinn/GT

BOULDER, CO (BRAIN) Schwinn/GT voluntarily filed for Chapter 11 bankruptcy July 16 in a deal that could leave Huffy owner of Schwinn/GT s cycling divisions. Huffy is bidding $60 million for the division, which will be auctioned in late August or early September.

"As part of the selling process we had to seek the protection of the courts to lessen our debt load because Schwinn/GT s debt is greater than the market value of its assets," said Jeff Sinclair, Schwinn/GT s chief executive officer.

While Huffy s early bid gives the company an advantage, other companies could outbid Huffy and wind up owning one or more of the brands. Sinclair called Huffy s early bid a "stalking horse." In other words, if no one bids higher, Huffy gets the company.

"There could be some interesting maneuvering in the final six weeks of this sale," Sinclair said. If Huffy gets Schwinn, it could spark cutthroat competition between mass merchant suppliers Huffy, Pacific and Dynacraft.

Any money from the sale of Schwinn/GT s assets goes to pay off creditors. The company s only secured creditors are the banks. It is unlikely anyone in the industry will get much, if any money. Schwinn/GT will not purchase any more products until the sale is final. Schwinn/GT has no space booked at Interbike.

Pending court approval, which Sinclair expected to get Tuesday morning, Schwinn/GT will have $30 million in financing to cover operating costs through the sale. Schwinn s 300 employees will stay on the payroll through Sept. 15.

Huffy s bid would cover the remaining assets including accounts receivable, inventory and intellectual property rights of the Schwinn Cycling, GT, Riteway, Dyno and Powerlite brands in the United States. It also would have rights to the Schwinn brand name.

The Schwinn fitness division will be sold separately. The cycling division buyer will license the name to the fitness buyer in perpetuity.

Bicycle Retailer Editorial Staff
July 17, 2001





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