From the Roadbike Rider newletter and Bicycling.com. How sad, hopefully, it means they stay in business as is. It is amazing that both Trek and Cannondale are still American companies.
Speaking of Cannondale, the company filed for chapter 11 reorganization on Tuesday. It will be taken over by Pegasus Partners, one of its two largest creditors, pending bankruptcy court approval.
Don't despair too much, Cannondale fans. The intent is to refocus on the bike business and sell off or terminate motorcycle and ATV manufacturing. Cannondale's failure to make it in the internal-combustion market after investing millions of dollars is blamed for the bankruptcy.
Don't worry.... what goes down will come up!
Don't worry.... what goes down will come up!
Don't worry.... what goes down will come up!