High-end cycling retailer Saddleback has entered administration, resulting in the loss of 42 jobs. The company, based in Yate near Bristol, had been trading for 22 years before mounting financial pressures forced its closure.
Joint administrators Jonathan Dunn and Matt Whitchurch have been appointed. Dunn stated that their immediate priority is supporting employees who have been made redundant and helping them access financial support.
The administrators cited increasingly difficult trading conditions in the cycling sector as the cause of the collapse. Saddleback's directors had explored options to save the business, including seeking a buyer, but were ultimately unsuccessful.
Saddleback sold bikes, accessories, and clothing across the UK, building a reputation as a supplier of premium cycling products. The closure follows that of Norfolk-based retailer Pedal Revolution, which entered administration in May after more than 25 years in business.
