General Cycling Discussion - Pacific buys Schwinn/GT

In all of the confusion of the last few days, looks like this one was overlooked by the Bike Forums crew (or just not posted). Just before evacuating court, bankruptycy proceedings were finished selling Schwinn/GT to Pacific.
Found the info here:
http://www.mtbjournal.com

I've got to say, this isn't any better than Huffy making the purchase.

i thought that huffy bought out gt/schwinn so did pacific buy out huffy gt and schwinn? im confussed

Pacific out bid huffy by a few million it looks like... honestly, id rather have huffy take over schwinn then pacific...

Originally posted by marine43
i thought that huffy bought out gt/schwinn so did pacific buy out huffy gt and schwinn? im confussed
Originally, it was being reported (usually in the headlines), several weeks ago, that Huffy bought Schwinn/GT. This was completely misleading, as Huffy I had mearly put in an offer. As we now see, they lost the bid.

What happens now is anyone's guess.

It is a darn shame.

Read the article. I cringed at the idea of Huffy "Schwinns" but this is probably about the same. I can remember Mongoose as a serious and very popular BMX with real competition credentials. It would have been as out of place at Sports Authority as a Colnago. Under Pacific that obviously has changed. The end result is that Schwinn is soon to be a ____-Mart bike.

I hung out at a Schwinn shop when I was in Jr. High and learned how to work on bikes at that shop. This is kind of sad even if the first "real" bike I bought was European (Motobecane).

i heard that MONGOOSE bought out Schwinn/ GT

its no beter then anything else!!!

Mongeese, Pacific, H*ffy (it's a swear-word to me). A plague on 'em all I say!

I really don't care that Schwinn was sold to Pacific. I mean it's just a brand name. No big deal. No REAL Schwinns have been built for nearly 10 years anyway. Not since the Schwinn family sold the name (if you want a real Schwinn they are now called Waterfords, a company formed by ex-schwinn employees in the old factory).

But what does bother me is that many uninformed adults will see Schwinns at toy/department stores. And because they don't know they are actually just rebadged crap, they will buy them thinking that Schwinn is still the same quality brand as before. That's exactly what happened (and still happens) with Mongoose.