Head Sport, the Austrian firm best known for its skis and tennis rackets, has acquired Advanced Sports Enterprises (ASE), the parent of Performance Bicycle and cycling brands including Fuji, SE Bikes, Kestrel, and Breezer, for $21.5 million at a bankruptcy auction. Advanced Sport Enterprises, parent to BMX brand SE Bikes, as well as other marquee brands in the cycling industry, such as Fuji and Kestral, filed for Chapter 11 Bankruptcy protection on November 16. The company was heavily invested in retail, via its Performance Bicycle shops, which operated in 19 states, with over 100 locations. The retail bicycle business is definitely not what it used to be– and that, coupled with being admittedly undercapitalized, led to the circumstances that precipitated the filing.
Last week, an auction was held in order to sell off key assets of ASE, which reported liabilities of over
After doing a BMX 'zine for ten years (1987 - 1996) FATBMX made it on the internet. The year was 1998. Here to stay.