(BRAIN) — Framebuilding-supply manufacturer Paragon Machine Works is closing shop, saying, "We have determined that our business is no longer viable, due to a variety of market and industry factors beyond our control."
The company announced the decision on its website, as first reported on TheRadavist.com on Friday.
The company said it is ceasing "major operations" on Friday but will continue to sell and ship its remaining inventory and make parts as its materials inventory lasts.
"Manufacturing priority will be given to parts in greatest demand. If we can justify another run of a certain part, we will," the company said.
The company said it is working to find vendors who can sell some of its third-party products.
Paragon was in business for 43 years. Founder Mark Norstad was inducted into the Mountain Bike Hall of Fame in 2017.
