BikeBiz Bicycle and cycling retail news
On 10th December 1999 Derby-owned Raleigh auctioned off its robot welders and other bike-building kit. On 15-16th December this year its the turn of former Derby-owned company Sturmey Archer.
Much of the plant will already have been sold thanks to former Sturmey employees assisting the joint liquidators in selling the moveable machinery at knock down prices.
The third preferential creditor in the Sturmey collapse is the employees group.
A former staff member still working in the cold, echo-filled, empty factory told us the bargain basement sale of Sturmeys equipment was a heart-rending task but it would salvage at least some cash for the employees.
I continue to dispose of our beloved company with vim and eagerness, said the former Sturmey manager, bitterly.
