Licensed Insolvency Practitioners With National Coverage
Derby based Cycle builder Mercian Cycles has gone into liquidation. The firm specialised in making high quality steel frames with hand made decorative joinery (“lugs” in bike parlance).
The company confirmed thr news to the publication road.cc saying: “Mercian Cycles Ltd has ceased to trade, and we have instructed an Insolvency Practitioner to assist us with taking the appropriate steps to place the Company into Creditors’ Voluntary Liquidation.”
Opus Business Advisory Group have been appointed liquidators and said “we will be working closely with the company to help manage a controlled wind down of the business and a smooth transition for stakeholders”.
The bike company was founded in 1946 and was seen as quite eccentric with its lugs and flamboyant colours. The firm had quite a cult following in the UK and the USA.
However the cycling industry has had a hard time of late due to over capacity following the pandemic when everyone suddenly started to spend money on Bicycles. Unfortunately, this new found enthusiasm did not last.