Stages parent Foundation Fitness has entered into a prepetition asset purchase agreement with Spia Cycling Inc., according to Foundation’s latest bankruptcy filing in the District of Nebraska, with outside sources naming the purchaser as a burgeoning division of Giant. Cycling World previously reported former Stages marketing executive Paddy Murray had jumped ship to Giant, where he said he’d be spearheading the launch of Spia, a “groundbreaking indoor cycling division” for his new homebase. The declaration from CEO Jim Liggett states that since Foundation began marketing an asset sale in summer 2023, ... Log in to view full article.