Good news for C-Dale

Looks like Cannondale's factories are working again:

http://bicycleretailer.com/bicycleretailer/headlines/article_display.jsp? vnu_content_id=1829569

Derek

 

Hmmm... that story raises more questions than it answers. Wonder where the money is coming from to
pay the employees?

John Riley

Derek Swift wrote:
>
> Looks like Cannondale's factories are working again:
>
> http://bicycleretailer.com/bicycleretailer/headlines/article_display.jsp? vnu_content_id=1829569
>
> Derek

 

Their debtors have taken over a major share (if not all) of the company. My guess is that they will
liquidate the motor cycle division or allow it to wither at the vine, as it has been the major
reason for Cannondales financial problems.

Regards,

--
Rickey Horwitz Hell-bent Cycle Works http://www.hellbentcycles.com

"John Riley" <[email protected]> wrote in message news:[email protected]...
> Hmmm... that story raises more questions than it answers. Wonder where the money is coming from to
> pay the employees?
>
> John Riley
>
>
>
> Derek Swift wrote:
> >
> > Looks like Cannondale's factories are working again:
> >
> >
http://bicycleretailer.com/bicycleretailer/headlines/article_display.jsp?
> > vnu_content_id=1829569
> >
> > Derek

 

when they filed for chapter 11, they already had a deal with a firm that is one of their biggest
creditors to provide funds to get them running again.

This restart of the bike section was planned weeks ago, and in fact, was ONLY possible because they
declared bankruptcy and decided to drop the motorsports division that was costing them hundreds of
millions of bucks a year.

Sj