Bankruptcy Customer FAQ
What was announced?
Advanced Sports Enterprises. dba Bike Nashbar, Performance Bike and several affiliated companies have filed voluntary Chapter 11 bankruptcy petitions in the United States Bankruptcy Court for the District of North Carolina. On February 6, the sale of ASE assets was approved by the Bankruptcy Court. The assets and brands sold by ASE are expected to continue on under new ownership. Some Performance Bike stores are currently open for business under the prior owners but will close in March of 2019. The Performance Bike & Bike Nashbar websites are currently open for business under new owners as of February 19, 2019 (see below).
Does this mean that Bike Nashbar & Performance Bike are going out of business?
Some Performance Bike stores and the websites are currently open for business and serving customers under protections offered under the bankruptcy settlement. It is expected that the majority of store locations will close as inventory is depleted, which is expected to be in March of 2019. Some store locations may re-open under new ownership and a new name, however they will no longer be affiliated with Performance Bike. Please discuss any questions you have regarding store closures with a representative in your local market.
Will Bike Nashbar & Performance Bike continue to accept returns?
All sales made prior to February 16, 2019 were final and returns will not be accepted. Bike Nashbar & Performance Bike will accept returns under its current policy for purchases made on or after February 16, 2019.
Will Performance Bike & Bike Nashbar continue to accept Gift Cards, Service Plans and Team Performance Rewards?
When Advanced Sports Enterprises entered into bankruptcy protection, customers with Gift Cards, Store Credits or pre-paid reward or service plans became creditors of the Company. On December 7, 2018 Performance Bike and Nashbar notified customers of these changes online and in store. Currently, stores continuing to participate in store closing sales will not accept Team Performance Reward Points in conjunction with their closing sales. ALL rewards, coupons, or other such credits or gift cards are also nor redeemable online.
Gift Cards and Reward Points purchased or earned on the Performance Bike & Bike Nashbar websites after February 19, 2019 will be honored indefinitely under the new Terms and Conditions of the new website(s).
Will Bike Nashbar & Performance Bike honor existing product warranties and extended warranty service contracts?
All sales made prior to February 16, 2019 were final and do not come with a warranty. These products were explicitly sold “as is.” However, most national branded products come with a manufacturer’s warranty and for issues with those products customers should contact the manufacturer directly.
Performance Bike and Bike Nashbar private label product warranties are no longer being offered. However, we will honor such warranties for products purchased after February 16, 2019. Performance Bike will no longer sell extended warranties, sold under Spin Doctor, or fulfill extended warranty claims in its stores.
Can I still make purchases through the Bike Nashbar & Performance Bike Websites?
The Bike Nashbar & Performance Bike trademarks were sold at Auction and as of February 16, 2019, the websites were re-launched under new ownership. Any orders placed on or after February 18, 2019 are guaranteed to ship and come with industry leading support and extended return periods for customers of the former Bike Nashbar & Performance Bike websites. Please contact our customers service department with any questions or concerns.