Guru Cycles assets to be sold at auction next month

By Stephen Frothingham

St. LAURENT, Quebec — Guru Cycles will not be continuing under its current ownership; its remaining assets, including its trademarks and manufacturing equipment, will be auctioned next month.

The company told its dealers in December that it was hoping to reorganize after incurring unmanageable debts stemming from a factory move early last year. The company made an initial bankruptcy filing with a Montreal court just before Christmas, listing debts of CA$1.1 million ($789,000).

Owner Ted Matthews …read more

Via:: Bicycle Retailer and Industry News