|GT filed for Chapter 11||Trigger|
Aug 13, 2001 9:42 PM
|I am looking to get my first roadbike and have just about decided on a GT ZR 4.0. I just read tonight that GT filed for Chapter 11 last month and was sold to Huffy. Any thoughts on the continuation of the brand. Has anyone spoken to a dealer about this?|
|re: GT filed for Chapter 11||DCP|
Aug 14, 2001 6:07 AM
|Schwinn/GT Corp. filed for bankruptcy after signing an agreement for assets fo Schwinn/GT to be purchased by Huffy. The Huffy agreement required the filing to clean out liability claims. Have a look at http://www.schwinn.com/news/index.html . When that happens, other companies can make their own proposals to buy the company. Apparently this has happened with the maker of Mongoose and Roadmaster making a higher bid than Huffy. Ultimately, the assets will be sold to the highest bidder with the auction scheduled for Sept. 10. http://dailynews.yahoo.com/h/ap/20010802/bs/schwinn_suitors_1.html .
An unknown, at least to me, is whether Huffy or Mongoose propose to assume consumer warranty claims. Hopefully the buyer will, or perhaps at least simply honor the claims for integrity of the brand. It certainly makes sense to me to that it would, but I doubt that there is any assurance of that at the moment.
The attorney for Huffy is Craig A. Christensen, Lindquist & Vennum P.L.L.P., 303-573-5900. Call him and ask.
|re: GT filed for Chapter 11||jtolleson|
Aug 14, 2001 5:16 PM
|As an attorney, let me just say that posting the lawyer's telephone number is totally juvenile. Harassing calls by internet users will accomplish nothing. Take a chill pill.|| |