Islabikes says it will continue to sell existing stock A cycle manufacturer, which made its name improving children’s bike design, is to end production.
Islabikes was founded in 2005 by triple British cyclo-cross champion Isla Rowntree.
The Shropshire firm said Ms Rowntree and managing director Tim Goodall had decided to shut after a "difficult and turbulent time for the cycle industry".
It has confirmed it will continue to sell existing stock for the time being, and also make spare parts available.
The company is based near Ludlow, having started life 25 miles away near Claverley. The firm was founded by Isla Rowntree in 2005 Thanking customers in an announcement on the company website , the firm confirmed it remained solvent and had no outstanding creditors.
Its last company accounts show that in December 2022 it had net assets of over £4m and employed 21 people. Ms Rowntree transferred majority ownership to Mr Goodall in 2021 in a management buyout.
Last year, after a fall in the value of the pound prompted by tax cuts in Kwasi Kwarteng’s mini-budget, Mr Goodall told the BBC how Islabikes’ costs had risen sharply , prompting his "most worrying" time in business. Tim Goodall took control of the firm in 2021 The deputy chairman of Ludlow’s chamber of commerce, Ian Evans, told BBC Radio Shropshire the firm had helped put the town on the map. "They didn’t have a retail outlet in the town centre, but it’s the presence of a brand like that," he said. "Then there’s the loss […]