Performance Bike Shops closing!

[zzyzzx]

Parent company declared bankruptcy! It's all over the internet! People at the store blame the parent company for something stupid that they did.
My local store said that they aren't picked over yet.

 

[ragtoplvr]

then come the store liquidators, double prices offer 40% off.

Just stay away

Rod

 

[AZjeff]

President & CEO says this: "While ASE is undergoing the Chapter 11 process, we will continue with business as usual; orders will be fulfilled and Performance Bicycle stores will continue operating," he added. "Employee layoffs and store closings are inevitable, but at this time I do not have enough information to announce those plans."

From Velonews: Perf Bike

 

[skyactiv]

That sucks. They had internet pricing on a lot of things with the convenience of a brick & mortar.

 

[Thax]

Sad to hear , I worked for PB for a good bit of my college years. It was a fun place to work , and had a nice employee discount.

 

[Andrew1972]

Everything including business has a shelf life. Some businesses are amazing at extending it but the sharp owners and employee know when to jump ship.

I cannot think of a business I miss that has closed doors as something fills it place and typically does a better or different job.

 

[andyd]

Has your local Papa Ginos shutdown yet? I'm missing mine.

 

[AZjeff]

I get emails from PB, got one today and no mention of it, business as usual. (Sales)

 

[dailydriver]

I'm old enough to remember when they first started as mail order only, to try and compete with Nashbar.

Then again, I'm old enough to remember when there was not even mail order cycling parts/equipment/clothing AT ALL. LOL

 

[CR94]

Originally Posted by dailydriver
I'm old enough to remember when they first started as mail order only, to try and compete with Nashbar. ...
I'm still using parts and jerseys I bought from their original outlet store in Chapel Hill, circa 1983. It was in an old, small building that looked as if it might've once been a dry-cleaner's shop. Customers had to order at a counter. It mostly sold returns from mail-order customers, I believe. Soon they moved into a new store building a few blocks away.

 

[nthach]

In my area, the bike market is saturated but segmented - the nearest Performance has two high-end racer shops(Mike's Bikes and Beyond Aero) and for the general market lots of small shops, with REI and Sports Basement literally next door.

The bike industry is evolving fast from full-service to repair shops. All the major bike brands are focusing on direct-to-consumer. Trek is getting into the retail business, and Specialized is doubling down on high-end customers who more than likely race - also doesn't hurt the big red S is in bed with Mike's Bikes and Helen's Cycles in CA to get that market.

 

[JLawrence08648]

I don't think they are going bankrupt, aka out of business, Chapter 7; I think they are in reorganization, Chapter 11, to reduce their debt load, get out of high paying leases with under performing stores.