December 17/15 9:53 am - Guru Announces Restructuring

Posted by Editor on 12/17/15
 

Montreal-based bicycle manufacturer Guru Cycles has announced through a letter to dealers that "At this time we are working with our bankers to restructure Guru".

The company specializes in road and triathlon bikes, selling through dealers and its website.  It relocated to new facilities earlier this year, and says in the letter that that was more costly and took longer then planned.  They also admitted that sales dropped during the transition.  The company also sold off its Guru fit system to the Cannondale group (owned by Dorel).

Earlier this month they had a large sale of framesets through their website to reduce inventory, with some models reduced as much as 70%.

We attempted to contact the company for more information yesterday, but no one was answering the telephones at their offices.