I bought one new about 30 years ago, had some problems with it remember a bad hub, parts falling off, etc. I remember that at the time Lambert made a big splash because the bikes were very light for the day and a bargain (and were heavily advertised), but the brand disapeared fairly quickly due to poor quality. I think I remember also hearing something about defective forks, but am not sure...but if correct, that would be really dangerous. Anyway, IMHO it would not be worth restoring, converting to fixed gear, etc...