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Eastern Bikes goes into receivership - BikeBiz

Eastern Bikes goes into receivership

North Carolina court orders company operations to cease and assets to be sold
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BMX label Eastern Bikes has been ordered into receivership by a North Carolina court, reports BRaIN.

According to court papers, Eastern's suppliers are owed approximately $1.9 million, with other creditors owed another $500,000, as well as a further $500,000 in orders unable to be fulfilled. The company has lost money in each of the past four years.

Eastern Bikes started out in 1996.

For the full story, see here.

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