LOUISVILLE, Colo. (BRAIN) — United Sports Brands, which bought Pearl Izumi from Shimano in May, is laying off several employees at the apparel brand and will close its Colorado headquarters.
Michael Magerman, USB's president and CEO, said the building has been "mostly vacant" since the acquisition because many employees began working from home during the pandemic. Some of the brand's workforce was already dispersed before the pandemic.
"In an effort to maximize efficiencies, USB will move the remaining functions and people to remote work or relocate them from Colorado to USB's California location. USB has already made significant investments into the brand and we intend to invest in and grow the business for many years to come," Magerman said in a statement to BRAIN.
Magerman did not comment on layoffs. However, several sources tell BRAIN there have been layoffs in multiple departments in recent weeks. Additionally, some Pearl Izumi employees are being given the option to relocate to USB's headquarters in Fountain Valley, California, or to work remotely.
Sources also say that USB plans sell the Louisville facility, which it built in 2013. The award-winning 55,000-square-foot facility was built with natural materials from the area.
USB, which is backed by the private equity firm Bregal Partners, owns Nathan, Cutters, and Shock Doctor, among other sports brands. Pearl Izumi and Nathan, which offers running accessories and apparel, comprise USB's new outdoor division.
