BikeBiz Bicycle and cycling retail news
[Uploaded to BikeBiz.co.uk on 20th October]
Tony Murphy of Smith & Williamson told BikeBiz last week that a company was looking to resurrect Sturmey Archer by taking on its debts (er, for real this time) but it has now transpired that no deal has been made. The mystery buyer said to be from overseas, but not America was an Anglophile and wanted to keep Sturmey Archer in Britain.
The liquidators spent nine days trying to reach a sale deal with the potential buyer but, as the days went on, valuable orders were being lost and any hope of a genuine rescue receeded.
As Sturmey Archer will not now be sold as a going concern, the various assets are being offered for sale individually, including the famous brand name which will no doubt end up in the Far East.
Despite information printed on this site some days ago, no firm buyer has yet come forward for the Brooks part of the business.
