Another brand exits the cycling industry as Revel Bikes has announced it will cease operations, signaling that many companies continue to struggle with post-pandemic market challenges.
In an email sent to dealers earlier today, the Colorado-based brand confirmed it has exhausted its financial resources and has transferred control of the business to its senior lender. The company is now entering an orderly wind-down and will liquidate its remaining inventory.
Previous warranty support has ended. Although Revel explored options for a partner to provide service for bicycles already in use, those efforts proved unsuccessful.
Revel cited product delays, overdue payments, and a weak market as factors leading to its closure. With secured debt exceeding $8 million, the likelihood of recovering funds for unsecured creditors appears minimal. Remaining Revel bicycles and merchandise will be sold at significant discounts to recoup capital.
