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Huffy leaves bankruptcy
MIAMISBURG, Ohio – Huffy Corp. announced today it has emerged from bankruptcy
after receiving $50 million in loans from two financing corporations. The 117-year-old bicycle and sporting goods company filed for reorganization last October under Chapter 11 of the federal bankruptcy code, citing losses largely from a Canadian sports equipment company. A judge last month approved the reorganization plan, contingent on the company finding financing. Huffy has about 110 workers and is headquartered in this Dayton suburb. “Huffy Corp. has now successfully completed a very difficult period in its long history,” said John Muskovich, president and CEO. “We have accomplished all of our major objectives for this process and have secured an exit financing package, which along with the support from our trade suppliers will provide assurance to our customers as to the strength of the new Huffy.” Huffy said its board of directors has been reconstituted. Its new chairman is Zhidong Liang, executive vice president of China Export & Credit Corp. “Huffy Corporation is an important partner for the China-based companies which manufacture its bicycles, and we look forward to a long and mutually beneficial working relationship,” Liang said. http://news.enquirer.com/apps/pbcs.d...IZ01/310140005 |
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#2
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Huffy leaves bankruptcy
It would be kinda cool if Huffy made a $300 recumbent. I'd buy one to
try. |
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Huffy leaves bankruptcy
At the XMAS party that my LBS threw each year the highlight activity
was the "Huffy Toss." Modeled on the Highland games the winner was the person who could "toss" the Huffy the farthest. That ws the best use we could find for the Huffy and I am happy to see that they will still be available for the event. |
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Huffy leaves bankruptcy
Ditto! We had one of those at a Christmas Charities fix-up a few years
back... it was the highlight of the day! Mike Lackey Madison, AL "gds" wrote in message oups.com... At the XMAS party that my LBS threw each year the highlight activity was the "Huffy Toss." Modeled on the Highland games the winner was the person who could "toss" the Huffy the farthest. That ws the best use we could find for the Huffy and I am happy to see that they will still be available for the event. |
#5
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Huffy leaves bankruptcy
"Garrison Hilliard" wrote in message ... MIAMISBURG, Ohio - Huffy Corp. announced today it has emerged from bankruptcy after receiving $50 million in loans from two financing corporations. The 117-year-old bicycle and sporting goods company filed for reorganization last October under Chapter 11 of the federal bankruptcy code, citing losses largely from a Canadian sports equipment company. A judge last month approved the reorganization plan, contingent on the company finding financing. Huffy has about 110 workers and is headquartered in this Dayton suburb. "Huffy Corp. has now successfully completed a very difficult period in its long history," said John Muskovich, president and CEO. "We have accomplished all of our major objectives for this process and have secured an exit financing package, which along with the support from our trade suppliers will provide assurance to our customers as to the strength of the new Huffy." Huffy said its board of directors has been reconstituted. Its new chairman is Zhidong Liang, executive vice president of China Export & Credit Corp. "Huffy Corporation is an important partner for the China-based companies which manufacture its bicycles, and we look forward to a long and mutually beneficial working relationship," Liang said. Huffy is a perfect candidate for a "do not resuscitate" living will. They will never improve their branding image without a name change. How about Huffy-Davidson. Phil H |
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Huffy leaves bankruptcy
To the list,
But on the plus side, the homeless guys all know a Huffy is a superior ride, compared to all the other Kmart/Wally World bikes out there. The only thing better is an old Schwinn electro-forged. 500,000 bums on bikes agree... The Schwinn is rebuildable, all the others are throwaways. But hey, Huffy was made in USA, and when they put their minds to it they could make a good bike. later jn "Thursday" |
#7
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Huffy leaves bankruptcy
bryanska wrote:
It would be kinda cool if Huffy made a $300 recumbent. I'd buy one to try. I'd weigh 100 lbs. |
#8
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Huffy leaves bankruptcy
gds wrote:
At the XMAS party that my LBS threw each year the highlight activity was the "Huffy Toss." Modeled on the Highland games the winner was the person who could "toss" the Huffy the farthest. That ws the best use we could find for the Huffy and I am happy to see that they will still be available for the event. My Huffy at the moment has, let's see, 60,000 miles on it. http://home.att.net/~rhhardin/bike.jpg -- Ron Hardin On the internet, nobody knows you're a jerk. |
#9
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Huffy leaves bankruptcy
wrote in message oups.com... To the list, But on the plus side, the homeless guys all know a Huffy is a superior ride, compared to all the other Kmart/Wally World bikes out there. The only thing better is an old Schwinn electro-forged. 500,000 bums on bikes agree... The Schwinn is rebuildable, all the others are throwaways. But hey, Huffy was made in USA, and when they put their minds to it they could make a good bike. The DUI guys I see around here are usually on NEXT double boingers. It seems like they would be better served with one of the NEXT hybrids. Now that WalMart is selling the GMC Denali road bike, I wonder if that will become the DUI ride of choice? I didn't see rack eyelets on it, so it would be difficult for them to mount the milk crate. |
#10
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Huffy leaves bankruptcy
Gooserider wrote:
wrote in message oups.com... To the list, But on the plus side, the homeless guys all know a Huffy is a superior ride, compared to all the other Kmart/Wally World bikes out there. The only thing better is an old Schwinn electro-forged. 500,000 bums on bikes agree... The Schwinn is rebuildable, all the others are throwaways. But hey, Huffy was made in USA, and when they put their minds to it they could make a good bike. The DUI guys I see around here are usually on NEXT double boingers. It seems like they would be better served with one of the NEXT hybrids. Now that WalMart is selling the GMC Denali road bike, I wonder if that will become the DUI ride of choice? I didn't see rack eyelets on it, so it would be difficult for them to mount the milk crate. The beer-carrying milk crate? -- Phil, Squid-in-Training |
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