Halfords are the biggest losers as the chain relied heavily on GT mountain bikes as one of their top-end brands.
David Curruthers of receivers Kroll, Buckler, Phillips of London today told BikeBiz that he was going to try to sell the business as a going concern.
Schwinn/GT in the US is so far unaffected.
The forthcoming demise of Schwinn/GT (Europe) Ltd was alluded to on this website last week. At the time a Halfords spokeswoman told BikeBiz that the bike division was seriously concerned about the non-arrival of GT bikes ordered some months ago.
When he left Caratti the company which became Schwinn/GT (Europe) Ltd MD Mark Edwards famously wrote a letter to IBDs saying the GT move into Halfords would be a good thing.