Complex sentence: It became the dominant manufacturer of American bicycles through most of the 20th century and today, after declaring bankruptcy in 1992, it is a sub-brand of Pacific Cycle, owned by the multi-national conglomerate, Dorel Industries.
Split into simpler sentences: It became the dominant manufacturer of American bicycles through most of the 20th century. Today, after declaring bankruptcy in 1992, it is a sub-brand of Pacific Cycle, owned by the multi-national conglomerate, Dorel Industries.