CHAPEL HILL, N.C. (BRAIN) — Advanced Sport Enterprises, the 2-year-old company that is parent to the Performance Bicycle retail chain, Bike Nashbar and distributor ASI, filed for Chapter 11 bankruptcy protection Friday morning. The move is likely to lead to the closure of at least 40 Performance stores in the coming months; the chain currently has 104 locations.

Source: ASE, owner of Performance Bicycle and ASI, files for Chapter 11 | Bicycle Retailer and Industry News