Over 100 laid off as ASE sale nears completion; remaining Performance stores to shutter

CHAPEL HILL, N.C. (BRAIN) — About 95 employees at ASE's facility here — the longtime headquarters for the company's Performance retail division — were laid off Wednesday as it became near certain that the chain's remaining stores will close for good by next month. The layoffs ended hopes that Performance, once the country's largest bike retail chain with 104 stores and nearly 1,700 employees, would continue to operate brick-and-mortar stores. However, the new owners of the Performance and Nashbar e-commerce businesses told BRAIN they will operate and expand those websites. And the new owners of ASI, the wholesale business that distributes Fuji, Kestrel, SE and other brands, also plan to keep that business alive . Longtime ASI CEO Pat Cunnane is leaving the company after a transition period. Karen Bliss, who is ASI's chief marketing officer, has been named president and CMO. Ryan Davis, from Tiger Capital Group, has been ...

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