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Huffy Corporation Sells Non-Core Business Assets

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BIKE EUROPE: MIAMISBURG, US (November 24) – HUFFY CORPORATION has filed motions seeking approval from the Bankruptcy Court to sell certain assets of its non-core businesses. The Company filed a motion to sell intangible assets including trademarks and patents used in its hockey business under the brand name of Hespeler® and its in-line skates and […]

BIKE EUROPE: MIAMISBURG, US (November 24) – HUFFY CORPORATION has filed motions seeking approval from the Bankruptcy Court to sell certain assets of its non-core businesses. The Company filed a motion to sell intangible assets including trademarks and patents used in its hockey business under the brand name of Hespeler® and its in-line skates and action businesses under the brand names of Rage®, Dukes®, Skate Attack®, and Ultra Wheels®. Huffy has entered into an agreement for the sale of the intangible assets highlighted above in the amount of $1,615,000. The Company will solicit higher or better offers for these assets. Competing bids must be submitted by no later than December 8, 2004 with a sale auction to be held on December 10, 2004 at the offices of Dinsmore & Shohl in Cincinnati, Ohio. A hearing to approve the sales will be held on December 14, 2004 at the United States Bankruptcy Court for the Southern District of Ohio. The Company will solicit higher or better offers at the hearing to the approve the sales on November 29, 2004 at the United States Bankruptcy Court for the Southern District of Ohio, Western Division located in Dayton, Ohio. The Company and all of its United States and Canadian subsidiaries filed voluntary petitions for protection under Chapter 11 Reorganization of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Ohio on October 20, 2004.

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