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-   -   Cannondale bankrupt (http://www.bikeforums.net/general-cycling-discussion/20805-cannondale-bankrupt.html)

tivoli_mike 01-31-03 12:49 PM

Cannondale bankrupt
 
Not sure if this was posted...

http://story.news.yahoo.com/news?tmp...e_bankruptcy_2

Business - Reuters

Bike Maker Cannondale Files for Ch. 11
Mon Jan 27, 3:40 PM ET



BETHEL, Conn. (Reuters) - Bicycle maker Cannondale Corp. (NasdaqNM:BIKE - news) said on Monday it intends to file a voluntary petition for reorganization under Chapter 11, citing problems with its motorsports unit.

a2psyklnut 01-31-03 01:20 PM

Yep, do a search!

Looks like they are just filing Chpt 11, restructuring. Rumor is they will try to sell off the motorsports division and reestablish the cycling division as the stronghold they once were!

L8R

tivoli_mike 01-31-03 01:26 PM

From a business perspective, I wonder how they justified the move into motorized sports as a natural addition to their bike business...

KleinMp99 01-31-03 02:00 PM

Quote:

Originally posted by tivoli_mike
Not sure if this was posted...

:(

MikeOK 02-01-03 09:05 AM

Here's another one: (couldn't find the other thread)

THE REAL CANNONDALE STORY--JAN 28


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