Owner of custom bike specialists Spoon and WyndyMilla enters liquidation, after falling demand and rising costs put business in “impossible position”
Spoon founder Andy Carr took over the new company as CEO during the reorganisation, which saw Spoon and WyndyMilla continue to operate as separate brands, while WyndyMilla’s in-house paint facility WM Paintworks was rebranded and repositioned as its own standalone business, Gun Control Custom Paint.
“In a market where demand has dropped significantly and costs have risen, the decision to enter liquidation was necessary to address these challenges, though it is wholly regrettable. We remain committed to supporting the liquidation process during this difficult time.”He continued: “This decision will of course impact our customers. I deeply regret the challenges this situation may cause for everyone affected.
Last month, British cyclewear manufacturer Endura – which in recent years had appeared to be weathering the storms devastating the cycling market more ably than most –Evans Cycles also posted a £22.8m loss for the financial year ending April 2023following its acquisition by capital and investment company Baaj Capital LLP, a month after I-ride, the major UK cycling distributor behind Orro,
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