On Sunday BikeBiz reported that "Cycle Surgery is to close six of its 30 stores ... Some will rebrand as Cotswold Outdoor stores." This has now been confirmed by Outdoor and Cycle Concepts, the trading brand of AS Adventure Group, which owns Cycle Surgery. One of the stores to close is the Cycle Surgery at Lee Valley park sited within the velodrome used for the London 2012 Olympics.
Three Cycle Surgery stores in London will close, and three other stores will be rebranded. The Strype Street, Southwark Bridge and Lee Valley Velopark stores will close. Stores in Wirral and Tunbridge Wells will change to Cotswold Outdoor, and Cycle Surgery Moorgate will be replaced by Snow+Rock. Staff in these stores are going through a "consultation period," said a compnay statement.
"These proposed changes will enable Cycle Surgery to strengthen the business and continue to improve upon a customer proposition that includes quality workmanship and advice alongside a diverse offering of leading brands, both in-store and online," said Greg Nieuwenhuys, CEO at Outdoor and Cycle Concepts.
He added: 'These store changes are an important step that will help Cycle Surgery to meet the needs of customers and riders. We will continue to support our customers to get the best from cycling through our great product range in stores and online and our team of passionate experts delivering superb service."
The Lee Valley VeloPark store on the Queen Elizabeth Olympic Park was Cycle Surgery's thirtieth UK branch. It was the VeloPark's Official Cycle Sports Retailer and was first London 2012 legacy venue to secure a sponsorship deal. It opened in 2014.
Cycle Surgery has been owned by AS Adventure, owner of Cotswold Outdoor, since acquiring the Snow & Rock Group in June 2015.
Cycle Surgery was founded in 1992 as a bicycle workshop in Islington.
AS Adventure – which has annual sales of more than £210m – also owns the Runners Need stores. Cotswold has 69 stores throughout the UK. The group is owned by the Paris-based private equity firm PAI Partners.