|This just in (yesterday)||Brian C.|
Jul 17, 2001 4:34 AM
|Miamisburg, Ohio, July 16 (Bloomberg) -- Huffy Corp., a maker of bicycles and scooters, agreed to buy Schwinn/GT Corp.'s cycling division for more than $60 million, and Schwinn/GT is seeking bankruptcy protection to complete the sale. |
Schwinn/GT, owned by private equity firm Questor Partners Fund LP, will fire all of the cycling division's 300 employees in anticipation of the sale, said Brenda Adrian, a Schwinn/GT spokeswoman. Schwinn/GT sells bicycles under the Schwinn and GT brands.