Cannondale Up for Auction mid-March

BETHEL/CT, USA (January 31) - Cannondale filed for bankruptcy protection after its commitment to close the ailing motorsports division and sell its assets valued at $114.8 million. Its debt burden totaled $105.2 million in its Chapter 11 file at a Bankruptcy Court in Bridgeport, Connecticut. An auction of the company is scheduled for mid-March. Cannondale

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