A bankruptcy judge has approved the store closing sales at all 102 Performance Bicycle locations, according to Bicycle Retailer. An auction to acquire the assets of Advanced Sports Enterprises, the parent of Performance Bicycle, was moved to mid-January from December 18.
Advanced Sports Enterprises has indicated stores may be reopening as part of the restructuring.
The bid deadline of assets is January 11. An auction will be held January 15 if competing qualified bids arrive.
Advanced Sports Enterprises is also owns Bike Nashbar, the bicycle brands Fuji, Kestrel, SE, Breezer Bikes and Tuesday Cycles, and wholesale distributor Advanced Sports International.
