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Schwinn/GT up for sale(9 posts)

Schwinn/GT up for saleflyweight
Apr 5, 2001 2:55 PM
In case you haven't heard yet, Schwinn/GT are up for sale. Current owners, Questor Partners, are looking to unload the company which is heavily in debt to suppliers. Possible buyers include Huffy, Magna and Merida.

Source: Bicycle Retailer & Industry News.
Are you sure?TJeanloz
Apr 5, 2001 5:47 PM
I'm guessing that you read that on the internet version of BRAIN? If it was the most recent print version, then it refers to the European operations of Schwinn/GT, actually a seperate company. But here in Boulder there are rumors of things going on with the mother ship.
Receivership in Europe.E3
Apr 6, 2001 8:18 AM
According to a blurb in Cycling Plus, Schwinn/GT Europe is in receivership.
Are you sure?flyweight
Apr 6, 2001 9:03 AM
Yep. They're heavily in debt to Merida who make many of their bikes and are a rumored buyer. They've been losing money for years.
You're not sure...TJeanloz
Apr 7, 2001 4:27 PM
Actually, as a Schwinn dealer, I got a fax yesterday afternoon informing me that Credit Suisse First Boston would be exploring the possibility of a sale with Schwinn. As a potential buyer, I inquired about their financial status, and was assured by CSFB that their position is 'strong', and that they were not a distressed seller (of course, CSFB does have an interest in convincing potential buyers that the seller is not distressed). I should have full financial statements as soon as I sign a non-disclosure (Monday). But after that, it won't be legal for me to discuss their financial health.
Ted, are you that rich, or is Schwinn very undervalued? ;-) nmmike mcmahon
Apr 7, 2001 6:41 PM
nm
I have resources...TJeanloz
Apr 8, 2001 3:52 PM
Personally, no. But I'm fairly certain I can raise the money.
Will the Schwinn Peloton be replaced by the Schwinn Jeanloz?mike mcmahon
Apr 8, 2001 4:04 PM
Nice work. I had to muster most of my "resources" just to buy my most recent bike, and it wasn't even equipped with Record. I guess that's part of the price I pay for having two young kids and a wife who stays home to care for them. Good luck with the inquiry.
You're not sure...flyweight
Apr 9, 2001 8:07 AM
CSFB has a rather long, well known history of drastically overvaluing companies. If you believe what they say, well....