Planet X of Yorkshire, has made almost half of its staff redundant, sources say. Brexit is being blamed.
The Rotherham-based company employed 118 staff, and is run by founder Dave Loughran. Its last accounts show an annual turnover of £18.3 million, and profit of £109,689. In 2015 the company made a loss of £86,594 on a turnover of £20 million.
Planet X – which employed 142 staff in 2015 – owns the On One and Holdsworth marques, and also supplies eponymously-branded bikes.
The company's loss-making US operation was closed at the end of January.