4/17/2023 0 Comments Lamar fitness manual bike“I would not have gotten involved if I didn’t think that I could improve the situation for retailers and consumers.” “I believe the ‘Next’ chapter in the Lamar Fitness business failure will be well received by both consumers and retailers,” said Hornung, whose former Pacific Cycle company had a small fitness equipment line. He said it was his purchase, not an acquisition by the athletic testing company Next Testing ( he owned, and that it was on “a speculative basis.” ![]() Reached only a couple of hours after the Denver auction concluded, Hornung told SNEWS® from his Madison, Wis., office that he wasn’t ready to announce his plans for the assets, which included properties such as name, trademarks, inventory and parts. ![]() The final price was $450,000 for assets and accounts receivable rumored to be worth more than four times that sum, although repossessed goods at a bank auction often go for as little as 5 percent of the value, experts told SNEWS®. Under the corporate entity of his Next Testing company, former Pacific Cycle CEO and founder Chris Hornung purchased the assets of the former Lamar Fitness company at a Veteran’s Day bank auction. ![]() Get access to everything we publish when you
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