March<\/a> about \u201cevaluating all restructuring options.\u201d He was optimistic throughout that message.<\/p>\n\u201cThis is not an obituary,\u201d Buckley wrote. \u201cI started Knolly in a garage because I believed I could build a better bike. I still believe that. The question in front of me right now isn\u2019t whether Knolly should exist \u2014 it\u2019s what Knolly needs to look like to keep existing.\u201d<\/p>\n
It has been nearly two months since that Instagram post. And it looks like the situation hasn\u2019t improved.<\/p>\n
\n<\/blockquote>\nA Canadian gravity icon<\/h2>\n
Knolly Bikes is an iconic name in the lore of B.C. mountain biking. Since 2003, the North Van outfit has designed bikes to survive the infamous Shore trails.<\/p>\n
But, as many know, the bike industry has been in a rough place since the pandemic boom. Companies like YT, Rocky Mountain, Revel, GT have all faced trying times. Specialized made significant layoffs back in 2023. Many have speculated that Trek is also in trouble.<\/p>\n
The post-pandemic drop in demand, has left many bike companies overstocked and unable to sell product. Not to mention the profit margins that are continuing to deteriorate.<\/p>\n
For small brands it\u2019s an extremely difficult time to keep going.<\/p>\n
\u201cThe last few years have been the hardest this industry has ever seen, and Knolly has not been immune,\u201d wrote Buckley. \u201cBut we have been fighting through it: restructuring costs, tightening operations, and doing the difficult work of right-sizing the business to match a new reality. We were making progress. That progress was cut short. Our bank, RBC, has made the decision to call in our account.\u201d<\/p>\n
Hopefully not the end<\/h2>\n
There\u2019s still no official confirmation that Knolly is finished. And hopefully it\u2019s not. Maybe the auction helps stabilize things. Hopefully the company re-emerges smaller, leaner and able to keep designing bikes again.<\/p>\n
<\/a><\/p>\nOne silver lining?<\/h2>\n
If there\u2019s any upside here, it\u2019s that a few riders (and probably some bike shops) might score some very good deals. That\u2019s small comfort, though. Because every auction listing is a reminder that building bikes, especially independent, rider-owned bikes, is becoming more and more difficult.<\/p>\n
The auction ends May 25. You can place your bids now.<\/p>\n
<\/p>\n<\/div>\n