BRAIN Staff
All articles by BRAIN Staff
LONG BEACH, Calif. (BRAIN) — Virtual cycling brand Zwift is letting go 15% of its staff in its latest round of layoffs. The company also cut workers last May and November.
NEWARK, N.J. (BRAIN) — A sentencing hearing has been rescheduled for Samuel J. Mancini, who pleaded guilty last year to securities fraud related to a fund with plans to buy several Italian cycling brands.
TOYKO (BRAIN) — Shimano is forecasting a company-wide 20.5% drop in net sales for its fiscal 2023, citing global economic conditions and supply chain disruptions. It's forecasting bike division sales will be down 23%.
Former members of the professional mechanics' group provided an update.
OSAKA, Japan (BRAIN) — Sales in Shimano’s bicycle-product division hit another record in 2022, reaching 517.4 million yen ($3.885 billion) up 16.6% from the year prior.
BEVERLY, Mass. (BRAIN) — Custom carbon frame maker Parlee Cycles Inc. filed for Chapter 11 bankruptcy protection on Monday and will continue operations during the process. A balance sheet in its filing showed Parlee's liabilities totaled $4.4 million and total assets totaled $2.6 million at the end of January.
ANOKA, Minn. (BRAIN) — Vista Outdoor Inc. said its sales were down $40 million, to $755 million, in its third quarter, compared to the same period last year.
LOUISVILLE, Colo. (BRAIN) — The Pro's Closet has made its second round of layoffs in the past three months on Thursday, the result of continued economic headwinds facing the cycling industry.
LYONS, Colo. (BRAIN) — Reeb Cycles said it has seen sales grow 65% since it launched its steel SST trail bike in September. The privately held company did not release other sales figures.
PETALUMA, Calif. (BRAIN) — Component brand White Industries has purchased the wheel brands Rolf Prima and Astral Cycling.
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