COMPANIES

Schwinn Bicycle Seeks Buyer: Schwinn Bicycle Co. placed a want-ad in the nation’s newspapers Sunday, seeking buyers or investors for all or parts of its business. The 97-year-old maker of bicycles and fitness equipment filed in October for protection from its creditors under Chapter 11 of the federal bankruptcy law. Its interim financing plan was approved by a bankruptcy court last week. As part of the plan, Schwinn agreed to start soliciting bids from prospective buyers or investors, with the process to be completed by Feb. 1, 1993. The agreement with its creditors allows the Chicago-based company to use about $16 million in receivables and to borrow an additional $7 million, most of which Schwinn said it expects to use to purchase inventory.