On November 6th, Ms. Madeleine Dean was elected to Congress. Voters selected her as the representative from the 4th Congressional District of Pennsylvania.
Ten days later, Advanced Sports Enterprises – led by her husband, Mr. Patrick Cunnane – filed bankruptcy papers for that business and four affiliated firms.
Bicycle Retailer reported that Advanced Sports Enterprises and four affiliated businesses filed for Chapter 11 Bankruptcy on Friday.
You can view the news article in Bicycle Retailer by clicking here.
Petition11.com, a website that details bankruptcy filings, confirmed Chapter 11 filings were made in the District of North Carolina by Advanced Sports Enterprises.
You can view the news report on Petition11.com by clicking here and then doing an edit/search for “Advanced Sports Enterprises”.
The Wall Street Journal reported that in “a declaration signed by President and Board Chairman Patrick Cunnane”, the bankruptcy filing is seeking to “auction off inventory, retail locations and trademarks by December 18.”
You can view the news report in The Wall Street Journal clicking here and then doing an edit/search for “Advanced Sports Enterprises”.
Additional details will follow.