Fifty years old history of bike producing ended

Czech company creating bikes from 1951 Favorit has definitely ended on yesterday auction. Grounds and building where these famous road bikes was created were sold for 15 millions crowns. It was because the company become twice bankrupt.

The auction was very short. It took only five minutes to decide about the new owner. Bankruptcy administrator is not happy, because he expected the selling price at least 20 millions. An agent of new owner-developer company Nanny said, that it is not certain how will be building used, but they refuse to produce bikes.

The company bankrupt in year 2001 for the first time. Than it was bought by Bike Technology& Public Relations, that want to continue in producing of bikes. Unfortunately this year Favorit bankrupt once again.