PaceMaster, LLC acquired all of the assets of Aerobics Inc. in a transaction approved by the United States Bankruptcy Court in the District of New Jersey. Aerobics Inc. manufacturer of PaceMaster Treadmills voluntarily filed for Chapter 11 relief on May 14th, 2010.
The company was unable to cope with liquidity issues created by the overall economic turndown and the impact it has had on the fitness industry.
Thomas N. Staub, Aerobic's CEO commented that “This has been an extremely difficult time for Aerobics Inc. and the acquisition of company's assets by PaceMaster, LLC was the best solution for our customers, retailers and vendors. In addition PaceMaster, LLC intends to honor all warranties for products sold by Aerobics Inc. creating a seamless transition for our retailers and customers”.
Aerobics Inc. was founded in 1968 and has manufactured award winning PaceMaster Treadmills in the USA since that time. PaceMaster, LLC will continue to manufacture PaceMaster Treadmills in West Caldwell, New Jersey.
