The company remains solvent and has no outstanding creditors but founder and triple British cyclo-cross champion Isla Rowntree said on the company's website that, amidst 'a turbulent and difficult time for the cycle industry,' the directors had decided not to continue.
In the statement, Isla said: “Today, it’s easy to forget just how bad most children’s bikes were when I started Islabikes 18 years ago. "They were so poor I believed they had the potential to put many children off cycling for life and I founded Islabikes to change that – to give children a better experience of cycling with the many benefits that brings."“Islabikes’s early success gradually gained attention from other and bigger cycling brands and, as a result of them following our lead, today good quality, well thought out children’s bikes are available from multiple places, and for me, that is a wonderful thing.