Owners forced to sell Saris

Owners of Verona-based Saris Cycling Group are being forced to sell the company under a Chapter 128 filing, according to a Wisconsin State Journalreport. The co-founder and CEO Chris Fortune says a glut of inventory and debt is leading him to sell the company he and his wife have owned since 1989. Saris Cycling Group filed an alternative to bankruptcy considered a “voluntary assignment for the benefit of creditors” but not a federal bankruptcy filing. Bids to purchase the company will be considered and determined by the court in the next 60 days. Saris employs 132 people at its 80,000-square-foot manufacturing facility and warehouse located at 5253 Verona Road.