MTBShreD - The Mountain Bike TrailHead

  • Increase font size
  • Default font size
  • Decrease font size
Home More News Race Face Shuts Down Bankruptcy

Race Face Shuts Down Bankruptcy

E-mail Print PDF
User Rating: / 0
PoorBest 

Update: 5-9-2011

Race Face Performance Products, one of North America’s leading producers of high performance mountain bike components, protection and apparel, is pleased to announce that it has re-opened its doors as of May 9th, 2011

raceFaceBrettTippie

I just hate when a Mountain bike specific component company goes out of business.  What a shame!

Press Release:

Effective March 12 2011, an end of an era occurred as Race Face Components Inc. went into receivership. Effectively this means that Race Face’s bank, The Bank of Nova Scotia, has taken control of the company, appointed a receiver, and will sell the company and its assets. The receiver, Grant Thornton, will determine a sales process for the company in the days to come. The reasons for the receivership are complex but basically the company recently got offside on its borrowing base with the bank. The partners in the company tried to structure a deal with the bank to get the company back on side but unfortunately, a deal could not reached. In this event, it was hoped that the company could be sold as a ‘going concern’ but this solution also did not materialize.

More information >> Visit Pink Bike

See article from nsmb.com.  According to the article on nsmb Race Face had been in receivership for sometime, this is similar to being in bankruptcy.   The creditors pulled the plug on Friday.

More information >> Visit NSMB Race Face

More information >> Visit Pink Bike

More information >> Race Face

More Pictures >> Visit Race Face Copper Gallery

raceFace

raceFaceShred

raceFaceInsolvencyNotice

Last Updated on Monday, 09 May 2011 23:53  

Add comment


Security code
Refresh