BikeBiz.com has spoken to staff members of Race Face who have confirmed the business is in the process of being liquidated.
Most of the 30 Canadian staff will be laid off on Monday, with a core of four or five individuals to be kept on, temporarily, to oversee the liquidation. The collapse of the company came as a big surprise as the order book was strong, said one of the staffers.
Race Face has been making hardcore MTB equipment for 18 years, and was instrumental in helping to popularise the ‘North Shore’ MTB freeriding vibe.
Based in Vancouver, British Columbia, the company produced bomb-proof kit. There no details yet of any rescue of the company or whether IP assets will be sold on.
The company is a big magazine advertiser and spent a ton on other marketing, including sponsoring riders. On February 21st, the company said it had signed a two-year sponsorship deal with top freerider Aaron Chase.
Race Face has 30 employees in Canada, and another 30 in Asia.