Advanced Sports Enterprises (ASE), the parent company behind popular cycling brands like Bike Nashbar and Performance Bike, announced some significant changes that have impacted customers. If you’re a cyclist who has shopped at Bike Nashbar or Performance Bike, you likely have questions about what the bankruptcy filing means for you. This FAQ aims to clarify the situation and provide you with essential information regarding Bike Nashbar’s current status and operations.
What Exactly Was Announced Regarding Bike Nashbar and Performance Bike?
Advanced Sports Enterprises, operating as Bike Nashbar, Performance Bike, and several related entities, voluntarily filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of North Carolina. This announcement was a significant event for the cycling community. On February 6th, the Bankruptcy Court approved the sale of ASE’s assets. The good news is that the assets and well-known brands, including Bike Nashbar, were purchased and are expected to continue operating under new ownership. While some Performance Bike retail locations, under previous management, briefly reopened for clearance sales, they were slated to close permanently in March 2019. However, the Performance Bike and Bike Nashbar websites were relaunched under new ownership on February 19, 2019, ensuring these brands would continue to serve cyclists online.
Does This Mean Bike Nashbar and Performance Bike Are Completely Out of Business?
No, not entirely. While the landscape has changed, Bike Nashbar and Performance Bike are not completely defunct. Following the bankruptcy settlement, some Performance Bike stores temporarily operated to liquidate remaining inventory but ultimately closed their doors in March 2019. It’s important to note that while some physical store locations might potentially reopen under new ownership and a different brand name in the future, they will no longer be associated with Performance Bike. For specific details regarding local store closures, it’s best to inquire with representatives in your area.
Crucially, the Bike Nashbar and Performance Bike websites have remained operational without interruption under new ownership since February 19, 2019. These online platforms continue to serve customers, offering a wide range of cycling products and services. Therefore, while the physical store presence has diminished, the online presence of Bike Nashbar, a key resource for cyclists, persists.
Will Bike Nashbar and Performance Bike Still Accept Returns?
For purchases made before February 16, 2019, it’s important to understand that those sales were considered final. Unfortunately, returns for these pre-bankruptcy purchases were not accepted. However, for any purchases made on or after February 16, 2019, Bike Nashbar and Performance Bike are operating under a new return policy. This means that purchases made from the relaunched websites are subject to the current return guidelines in place by the new ownership. It’s advisable to review the website’s current return policy for the most up-to-date information.
What About Gift Cards, Service Plans, and Team Performance Rewards from Bike Nashbar and Performance Bike?
The bankruptcy filing of Advanced Sports Enterprises had implications for outstanding customer obligations. Customers holding Gift Cards, Store Credits, or pre-paid reward or service plans from before the bankruptcy became creditors of the company during the Chapter 11 proceedings. Performance Bike and Nashbar communicated these changes to customers both online and in their physical stores starting December 7, 2018. Notably, stores participating in closing sales did not accept Team Performance Reward Points during liquidation events. Furthermore, rewards, coupons, gift cards, and similar credits issued prior to the bankruptcy are generally not redeemable on the newly relaunched websites.
However, there is positive news for the future. Gift Cards and Reward Points purchased or earned on the Bike Nashbar & Performance Bike websites after February 19, 2019 are being honored under the new Terms and Conditions established by the new website operators. These new gift cards and rewards programs function independently from the pre-bankruptcy obligations.
Will Bike Nashbar and Performance Bike Honor Existing Product Warranties and Extended Service Contracts?
Similar to the return policy, the handling of warranties is split based on the date of purchase. Sales made before February 16, 2019, were considered final and products were explicitly sold “as is” without warranty coverage directly from Performance Bike or Bike Nashbar. However, it’s important to remember that many nationally branded products often come with a manufacturer’s warranty. For warranty issues related to these branded products purchased before February 16, 2019, customers should contact the product manufacturer directly to inquire about potential warranty claims.
Regarding Performance Bike and Bike Nashbar’s private label product warranties, these are no longer offered for products purchased before February 16, 2019. However, warranties are being honored for private label products purchased after February 16, 2019. Performance Bike no longer sells extended warranties under the “Spin Doctor” brand and is not fulfilling existing extended warranty claims in their stores.
Can Customers Still Make Purchases Through the Bike Nashbar and Performance Bike Websites?
Yes! The Bike Nashbar and Performance Bike brands and trademarks were successfully sold at auction, and as of February 16, 2019, the websites were relaunched under new ownership and management. Since February 18, 2019, orders placed through the Bike Nashbar and Performance Bike websites are guaranteed to be fulfilled and shipped. The new ownership is emphasizing customer support and is offering extended return periods for customers of the relaunched Bike Nashbar and Performance Bike online stores. For any questions or concerns regarding online orders, customers are encouraged to contact the customer service departments of the respective websites.
In conclusion, while the bankruptcy of Advanced Sports Enterprises brought about significant changes, Bike Nashbar continues to operate online under new ownership, ensuring cyclists can still access the brand and its products. Understanding the nuances of the bankruptcy, particularly regarding pre and post-February 16, 2019 purchases, is crucial for Bike Nashbar customers.
