Cannondale Bankrupt

Cannondale Bankrupt

From the Roadbike Rider newletter and 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.


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