Sturmey Archer will be liquidated

After twice visiting the Sturmey factory and for the first time being put fully in the picture, Barry Robinson has decided theres no way a rescue did can be conducted using Sturmey equipment as collateral so administration is no longer an option
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[Uploaded to BikeBiz.co.uk on 5th October]

And as theres no likelihood of a Lenark cash injection, Robinson has decided to let the company be liquidated. The application for an administration order has been withdrawn.

The liquidation will go ahead on Monday, allowing parts of the company to be bought (sans debts).

Sturmey employees are the third prefential creditors and should receive up to half of the cash owed to them.

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Saddleback Ltd I Yate, Bristol I Salary dependent on experience I Date Published Friday 8th February 2019