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BRAIN Weekly Digest July 15, 2019

Canadian Tire buys Canadian rights to four Accell bike brands

TORONTO (BRAIN) — As part of its "strategic review" of its North American business, Accell Group N.V. has sold Canadian rights to four of its brands to retail giant Canadian Tire. The move means that CanTire can use the Raleigh, Redline, Diamondback and IZIP brands on bikes exclusively in Canada. It also means about 130 Accell IBDs in Canada will no longer be selling the brands and Accell North America, based in Kent, Washington, no longer will be conducting business north of the border. 

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Some retailers unready to resume sales with Vista Outdoor

LOUISVILLE, Ky. (BRAIN) — When Vista Outdoor sold its firearms business last week, REI quickly ended its boycott of the company's brands over gun control issues. Some bike retailers have also resumed sales of the brands, which include Bell, Giro, CamelBak and Blackburn. But others are waiting for Vista to divest of its ammunition brands — or sell off the bike P&A brands as it promised.

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In the end, creditors will receive '0.0% plus interest' from bankrupt Mad Fiber wheel parent

WILMINGTON, Del. (BRAIN) — DCG Wheels, the parent company of the Mad Fiber wheel brand, is finally wrapping up its Chapter 7 bankruptcy case, more than 5 years after filing. Creditors had submitted claims of more than $9 million, but an auction raised less than $40,000. So creditors will get zip (plus interest). 

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With new investment, Velofix expands with corporate-owned vans, new Austin office

VANCOUVER, British Columbia (BRAIN) — With a significant new investment from a clean technology fund, mobile service franchiser Velofix is jump-starting its growth with plans to add 30 corporate-owned vans in the U.S. and Canada in the next year.

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