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Augusta Bike Declares Bankruptcy

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AUGSBURG, Germany (17 May 2000)–German bicycle distributor Augusta Bike GmbH has declared bankruptcy. Augusta Bike GmbH is the successor of Augusta Radsport Vertriebs GmbH, former distributor of popular names like Wheeler, Diamondback, Look, Marzocchi and Bogner Bikes, among others. This one-time successful distribution initially declared bankruptcy in mid-1996. At that time Istemi Parman of the […]

AUGSBURG, Germany (17 May 2000)–German bicycle distributor Augusta Bike GmbH has declared bankruptcy. Augusta Bike GmbH is the successor of Augusta Radsport Vertriebs GmbH, former distributor of popular names like Wheeler, Diamondback, Look, Marzocchi and Bogner Bikes, among others. This one-time successful distribution initially declared bankruptcy in mid-1996. At that time Istemi Parman of the Turkish bicycle manufacturer Bisan took over all of the Augsburg-based company’s assets and began Augusta Bike GmbH. It appears however that Augusta’s business suffered due to Bisan’s delivery problems. Bisan went bankrupt about two years ago, but started up production again at the end of last year. Augusta managed to stay in business during this time with its bicycle parts deliveries. However, by the time Bisan was up and running again it was too late for Augusta. (JB)

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