Schwinn/GT CEO "amazed at wild rumours" about sale of company

According to a report on www.bicycleretailer.com, the CEO of Schwinn/GT - which is milions of dollars behind in payments to Taiwanese bike factories, making them jittery - is surprised at the amount of speculation surrounding his company
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"I am amazed at the wild rumors that are circulating in the industry about the sale of the company," Jeff Sinclair told BicycleRetailer.

"The fact of the matter is that even though the sale process started last week, we have received many inquiries from companies, the majority of which only do business in the IBD channel. It is impossible to predict who will buy the company and irresponsible to speculate what could happen after the sale."

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