Wheel maker American Classic shuts down
Posted: Tue 09 Jan 2018 11:27
Eentje voor de geschiedenisboeken of (nog) niet :
American Classic, makers of wheels, hubs, and formerly seatposts, has announced it has closed its Taiwan-based factory, is selling its intellectual property, and laid off close to 40 employees.
Bikeradar : Wheel maker American Classic shuts down
Co-owner and general manager Ellen Kast told BRAIN that employees in both countries were paid severance. The factory, which was leased, shut down on Dec. 28.
Kast said sales began declining for the brand during the 2016 season. The company began offering lower-priced OE wheels to adjust but was unable to resume growth. "It came down to a cash flow issue," she said.
She said she was hopeful that the American Classic brand will continue on with new owners while she and Shook go on to new ventures.
"Is it the end? Yes. Is it the end? No," she said. "It's how you look at things."
Bicycle Retailer : American Classic closes factory, puts IP assets up for sale
American Classic, makers of wheels, hubs, and formerly seatposts, has announced it has closed its Taiwan-based factory, is selling its intellectual property, and laid off close to 40 employees.
Bikeradar : Wheel maker American Classic shuts down
Co-owner and general manager Ellen Kast told BRAIN that employees in both countries were paid severance. The factory, which was leased, shut down on Dec. 28.
Kast said sales began declining for the brand during the 2016 season. The company began offering lower-priced OE wheels to adjust but was unable to resume growth. "It came down to a cash flow issue," she said.
She said she was hopeful that the American Classic brand will continue on with new owners while she and Shook go on to new ventures.
"Is it the end? Yes. Is it the end? No," she said. "It's how you look at things."
Bicycle Retailer : American Classic closes factory, puts IP assets up for sale