Eastern Bikes goes into receivership

BMX label Eastern Bikes has been ordered into receivership by a North Carolina court, reports BRaIN.

According to court papers, Eastern’s suppliers are owed approximately $1.9 million, with other creditors owed another $500,000, as well as a further $500,000 in orders unable to be fulfilled. The company has lost money in each of the past four years.

Eastern Bikes started out in 1996.

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