OTHER NEWS - Dec. 9, 1992
From Times Staff and Wire Reports
Zell-Chilmark Takes Aim at Schwinn: Zell-Chilmark Fund and Scott U.S.A. of Sun Valley, Ida., have offered $40 million for the venerable but tottering Schwinn Bicycle Co. Under the offer, the Schwinn name would live on but the privately held company itself would expire at just short of 100 years old. The suitors offered to pay cash for Schwinn’s trademarks, customer lists, contracts, inventory and records. But they expressed no interest in Schwinn’s only remaining U.S. bike manufacturing plant, in Waterford, Wis., the company’s distribution centers or Chicago headquarters. Schwinn filed for protection under Chapter 11 in October.
