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MONTRÉAL (BRAIN) — Louis Garneau Sports' proposed restructuring plan would allocate about $550,000 Canadian dollars ($418,000) to be shared by the company's unsecured creditors, who are owed about CA$12.8 million, according to official documents released this week.

BH Burgos mechanics pose in the new outfits.

(BRAIN) — Many brands use the upcoming Tour de France to show off their new products or team kit. FSA and Vision are using the opportunity to show off the apparel being provided to mechanics in teams the brands sponsor at the race.

Louis Garneau

SAINT-AUGUSTIN-de-DESMAURES, Québec (BRAIN) — Louis Garneau Sports, which filed for bankruptcy protection in March, is presenting a new debt-restructuring plan to its creditors. The company said it has lined up a group of investors who will help it relaunch and keep it headquartered in Québec. The company did not reveal the identity of the investors.

Earnings per share hit company record.

TAICHUNG, Taiwan (BRAIN) — Giant Group's second-quarter sales were NT$19.7 billion ($669.7 million) and its earnings per share were NT$4.06, a company record high.

Tagged Earnings/Financial Reports
Shimano will celebrate its 100th anniversary in 2021.

OSAKA, Japan (BRAIN) — Shimano reported Tuesday that its first-half sales in its bicycle products division were down 14.6% from the same period last year, to 123 billion yen ($1.2 billion); operating income in the segment was down 19.7%.

Tagged Earnings/Financial Reports

HEERENVEEN, Netherlands (BRAIN) — Accell Group saw sales growth of 53.1% in June, helping the Dutch bike company record a first-half sales increase of 4% despite European retail shutdowns in March and April.

Tagged Earnings/Financial Reports

GRENOBLE, France (BRAIN) — The French investment group Bourrelier, the former owner of the Bricorama home improvement retail chain, appears to be set to take over Mavic, which is in receivership.

The Badger is still in the hunt. French administrators will decide on the winning bid this month.
Mavic continues to share its Annecy, France, facility with Salomon.

GRENOBLE, France (BRAIN) — Fox Factory has removed itself from the bidding to acquire Mavic SAS, which is in receivership in France. However, about 13 other groups, including several with ties to the bike industry, have expressed interest in the company.

Campagne, right, with Vriends.

BREMBATE, Italy (BRAIN) — The owners of Vittoria Group, including founder and president Rudie Campagne, have sold the tire maker to Wise Equity, an Italian group.  

Tagged Mergers, Acquisitions & Investments

OSAKA, Japan (BRAIN) —  Shimano's chairman emeritus and former chairman Yoshizo Shimano died of chronic heart failure at 85 on July 3.

"The contributions he made to Shimano's business cannot be measured and his impact will be felt forever," the company said. 

(BRAIN) — The United Kingdom bike industry says e-bike sales growth stalled in Q1 and during the country's COVID-19 lockdown. The industry is urging the government to provide financial incentives for e-bike purchases and create a public awareness campaign to encourage the use of e-bikes for transportation.

Tagged Electric bike
Courtesy photo from the 2019 Eurobike.

FRIEDRICHSHAFEN, Germany (BRAIN) — Eurobike organizers say local officials have given it the go ahead to hold its event here on its new dates, Nov. 24-26, 2020.

Tagged Eurobike

HEERENVEEN, Netherlands (BRAIN) — Accell Group N.V. said its bike sales rebounded in May after a steep decline in March and April. Bike shops in Germany, Accell's largest market, began to re-open at the end of April. May sales were up 23% over the same month last year.

Tagged Earnings/Financial Reports

CHAVANOD, France (BRAIN) — Groupe Rossignol has announced the sale of the TIME bike and pedal business to WhaTTfornow, a four-year-old e-bike brand.

Tagged Mergers, Acquisitions & Investments

FRIEDRICHSHAFEN, Germany (BRAIN) — Organizers of the ASEANBIKE 2020 show have announced they have postponed the inaugural event until sometime next year.  Messe Friedrichshafen, the owner of the Eurobike show, had partnered with .C.C.

Tagged Tradeshows and conferences

OSAKA, Japan (BRAIN) — Most publicly-traded bike companies' stock prices have seen a rebound since the pandemic, but Shimano's stock has rebounded and then some.

Company had been managed by a turn-around firm since February. Regent, which announced it had bought the brand last March, has no comment.
Mavic's headquarters near Annecy, which it shared with the ski brand Salomon.

ANNECY, France (BRAIN) — Mavic has been put into receivership at the French commercial court in Grenoble, after being put under the management of a turnaround firm in February.

TOKYO (BRAIN) — Shimano reported Tuesday that its first-quarter bike division sales were down 15.4% from the same period last year. Operating income in the division declined 26.1%.

Tagged Earnings/Financial Reports

BRUSSELS (BRAIN) — The World Bicycle Industry Association is asking all countries to allow bike repair services to continue through the COVID-19 pandemic. 

Tagged Coronavirus

TAICHUNG, Taiwan (BRAIN) — As fears of COVID 19 have swept through markets worldwide, Giant Group is bracing for a difficult year ahead. However, record revenue for 2019 should help bolster the multi-national company as it attempts to minimize the virus’s impact on its global operations.

Tagged Earnings/Financial Reports

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