Cycling News

Parlee Cycles files for bankruptcy

Parlee Cycles files for bankruptcy


The economic headwinds affecting the bike industry show no sign of relenting and they have today taken another high-profile victim, as Parlee Cycles has reportedly filed for bankruptcy. 

According to public court documents uncovered by Cycling Weekly (opens in new tab), the American brand voluntarily filed for Chapter 11 bankruptcy in the state of Massachusetts on February 6. This is defined as a ‘reorganisation’ bankruptcy, which means the business is in debt and must propose a plan of reorganisation, likely involving a partnership, sole proprietorship or corporation in order to pay off creditors over time and stay afloat. However, it can continue operating and even borrow money subject to court approval.

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