SEATTLE (BRAIN) — You may have seen the ad on this very site: The remaining assets of the Mad Fiber wheel company are going on auction this month. The trustee of the bankrupt company has listed the assets — mostly intellectual property and some tooling — with Randy L. Fridkis Auctions, which operates auctionsaleinfo.com. Bids in the online auction will be accepted starting Jan. 24; the auction closes at 4 p.m. Pacific time Jan. 28.
On Dec. 2, DCG Wheels, the former maker of Mad Fiber Wheels, filed for Chapter 7 bankruptcy in U.S. Bankruptcy Court for the District of Delaware. Less than two weeks later, DCG’s parent companies, Divine Cycling Group Inc. and Divine Cycling Group International (DCGI), separately filed for bankruptcy.
Charles Forman, the court-appointed bankruptcy trustee, recently emailed people who had expressed interest in DCG’s assets. CC’d on Forman’s email (which one recipient shared with BRAIN) were personnel at American Classic, BMC-Switzerland, Advanced Sports International, Pacenti Cycle Design and Wiggle.
The auction items can be viewed at the former Mad Fiber factory at 1604 North 34th Street in Seattle on Jan. 24 from 10 a.m. to 4 p.m. The factory building itself was leased by Mad Fiber and is not being sold at the auction.
According to an overview of the intellectual property posted on the auction site, the assets include various original, provisional and pending patents in the U.S. and elsewhere. The intellectual property, along with various wheel inventory, is bundled together as Lot 2, while hardgoods, including manufacturing equipment, make up Lot 3 of the auction. Lot 1 allows bidders to make a bulk bid on the entire combined Lots 2 and 3.
The hardgoods up for auction include everything from ladders and bar stools to worktables, a fork lift, Park TS-2 truing stands, bike pumps, Mad Fiber’s trade show booth, hand tools and more.
