Stages Cycling has laid off its entire workforce and ceased operations, according to a report.
Multiple sources close to the brand have confirmed that Stages has stopped placing orders with suppliers and ceased shipping orders to customers, as reported by Escape Collective.
The Stages Cycling website is still live, however almost every product, reduced or not, is currently listed as out of stock. Cycling Weekly also reached out to the Stages support team via email, and received an automatic reply reading “this person is no longer with the company. For accounting and other administrative communications please send email to: Administration@stagescycling.com.”
UK distributor Saddleback was not able to offer any comment, however, a spokesperson did say that warranty claims would be covered “as we still have stock here”, they added that they would continue selling stock already on the inventory.
Filings on Companies House for the UK arm of the business show that it received a notice for compulsory strike-off, on 27 February 2024. This was suspended on 16 April, 2024; the last filed accounts for Stages Indoor Cycling UK Limited reported up to December 2021, making the 2022 accounts overdue.
Stages has not been able to comment on the situation and cause for the company’s woes. However, many major brands within the cycling industry have suffered from cashflow issues following the COVID-19 boom.
Stages Cycling power meters use a proprietary strain gauge, which require semiconductor components of which there was a huge shortage following the 2020 pandemic, perhaps compounding issues.
(Image credit: Stages)
Stages Cycling was initially founded in 2009 by Jim and Scott Liggett owned by parent company Foundation Fitness LLC. Through the 2010s, the brand gained traction through its crank-based power meters which allowed strain gauges to be retrofitted to OEM crank arms at a lower cost than other power meters on the market.
More recently, Stages Cycling expanded its product line with dual-sided power meter technology, as well as indoor smart bikes such as the Stages SB20, which have been supplied in fleets to gyms and fitness centres globally.
In the last year, a host of companies have struggled – or collapsed – citing overstocking following the Covid pandemic is a major factor. News broke just days ago that Kona bikes had been put up for sale, whilst major retailer WiggleCRC was purchased by Mike Ashley’s Frasers Group last month.
Last year, three major distributors collapsed; Moore Large, 2Pure and FLi, with key retailers Evans Cycles, Sigma Sports and Balfe’s bikes all posting losses in their latest company accounts.