According to breaking news on http://www.bicycleretailer.com US bike supplier Pacific has lodged a $70 million offer for Schwinn/GT’s cycling and fitness divisions. And US supplier Direct Focus is prepared to buy the whole group.
Schwinn/GT will be sold via a court-supervised auction and a bid for the whole group would be the most attractive deal.
The bankruptcy judge will rule on the bids from Pacific and Direct Focus tomorrow afternoon.