Rocky Mountain Bicycles is the second big bike name to hit the headlines for the wrong reasons this week, in an indication that the bike industry is still struggling to recover from the pandemic bubble.
It has filed to restructure its operations under the Companies’ Creditors Arrangement Act – a piece of Canadian legislation that companies can only use if they owe more than $5milllion, which is about £2,777,800. It allows them time to restructure without debtors making claims against them, and is overseen by a court.
Rocky Mountain Bicycles has had a fairly low profile in the UK in recent years, but is a brand with a long history. It’s maybe remembered most for their sponsorship of the Froriders, perhaps the earliest professional freeride squad. That legacy continues in their current athlete line up, which include Vaea Verbeeck, who was 4th at this year’s inaugural Women’s Red Bull Rampage.
We wish all the best to their staff and athletes, and hope to see them on the other side of the restructure.
