Guru Cycles declares bankruptcy

By Stephen Frothingham

St. LAURENT, Quebec (BRAIN) — High-end custom bike brand Guru Cycles Inc. has filed for bankruptcy in Montreal, listing liabilities of CA$1.1 million ($789,000). The company had told its dealers last month that it was restructuring following an expensive factory relocation last summer, coupled with a decrease in sales.

Last month, Guru owner Ted Matthews and vice president of sales Robert Pinazza declined to comment to BRAIN on the restructuring, …read more

Via:: Bicycle Retailer and Industry News