All employees at WiggleCRC's bicycle workshop in Portsmouth are to be made redundant. The news was given to them on Thursday.
The workshop – and the current stock of bikes – will be moved to Chain Reaction's Whitepark warehouse in Ballyclare, Northern Ireland.
The Wiggle CRC Group employs about 1,000 staff, across offices in Portsmouth and Belfast.
In April, a WiggleCRC whistleblower told BikeBiz that there was a "meltdown" at the company.
Wiggle sprang from Portsmouth bike shop Butlers Cycles, bought by Mitch Dall in 1995.