Canadian Cyclist Specialized Spring Into Summer 247-2 May 5
   Follow us on Twitter
Find us on Facebook
ACS Apollo Bikes - November 19
Cyclist's Edge - November 15
TAg Nov 24 (+225)
Flow Coaching December 18
Share the Road - Dec 14

IMBA Canada - Dec 14

Lap the Gats CC1 April 27

Daily News


March 14/11 20:58 pm - RaceFace Update

Posted by Editor on 03/14/11

Canadian component manufacturer RaceFace has shut its doors, with Grant Thornton Ltd. appointed as receiver over the weekend.  There is nothing on the RaceFace website, but a letter was presented to all employees, stating that employment was terminated.

The letter read (in part): "...As the receiver will be shutting down the operations of Race Face Components Inc. immediately, your continued employment is no longer required and, therefore, the receiver on behalf of Race Face Components Inc., hereby terminates your employment, effectively immediately..."

Grant Thornton would not comment on the matter.  The RaceFace Facebook page has a discussion titled 'RaceFace Shutdown', but the discussion board has been disabled.  The RaceFace Twitter page has not been updated since March 5th.

The Receiver has the option of selling the company in its entirety, or liquidating assets to pay outstanding creditors.  It could potentially see the name sold (as happened with Syncros, now owned by Ritchey).

RaceFace has seen a steady decline in the number of bike brands which spec'd its cranks, handlebars and stems, and lost Canadian distribution with Cycles Lambert around the time it decided to sell through the Mountain Equipment Coop (MEC) chain; a decision which cost it sales in many Independent Bicycle Dealers (IBDs).


Return to Canadian Cyclist homepage | Back to Top
WoB Save Sale Jan29
DOrnellas Bike Sale April 1
The 11 Silber April 29
Jakroo Main Jan4 - GP
CC Advertise April 14

Dundas Speed Shop - Jan 11 (+524)

 © Copyright 1998-2016 Canadian Cyclist. All rights reserved.  Privacy Policy | Contact | Subscribe to RSS Feed  | Login