Showing posts with label receivership. Show all posts
Showing posts with label receivership. Show all posts

07 June 2024

Mercian—Say It Ain’t So!

 This will be one of the saddest posts I’ve written.

As you may have heard, Mercian Cycles ceased trading about two weeks ago.

I found out just the other day, when I realized I hadn’t received any notices from them in a while (I was on their mailing list) and went to their website. Their closure wasn’t exactly front-page news because Mercian isn’t like Schwinn, Raleigh or any of those bike manufacturers even non-cyclists know. 

Mercian, you see, was one of the last frame builders to make their bespoke and stock frames with traditional methods and materials, even if the latter were updated (e.g. Reynolds 853, 725 or 631 instead of 531 tubing). As for the methods: Mercian’s framebuilders joined those tubes in hand-cut lugs that were pinned and brazed in an open hearth before being finished with deep stove enamel paints.  A single builder made the frame every step of the way before the frame was sent to Mercian’s paint shop.






The result was frames that were more beautiful than even most other hand built frames, and certainly more elegant than almost any modern bike. More to the point, Mercian’s work resulted in bikes that you could forget you were riding—they seem to disappear under you—and, barring a crash or other mishap, could outlast you. I know this because I’ve been riding one of my Mercians—Tosca, my fixed-gear—since buying it in 2007, while another of my six Mercians—Negrosa, a 1973 Olympic I bought six years ago—rides as smoothly as it ever has. Oh, and Dee-Lilah, my Vincitore Special (the one with the head lugs in the photo) feels like a magic carpet.

I didn’t want to believe that no more of those wonderful bikes or frames would ever come out of that Derbyshire workshop (or that said workshop would become something else, or be demolished). So I sent an email to Grant and Jane, who had owned Mercian since 2002 and to whom I had spoken and written numerous times. In my response to my “say it ain’t so, Joe” message, I received this:


Hello
This is an automated reply.

Thank you for your email, Mercian Cycles Ltd has ceased to trade, and
we have instructed an Insolvency Practitioner to assist us with taking
the appropriate steps to place the Company into Creditors’ Voluntary
Liquidation.



We have instructed Opus Restructuring LLP and should you have any
queries their contact details are nottingham@opusllp.com.



I hope that some other builder or small company keeps the name and tradition alive (as Woodrup did for Bob Jackson a few years ago) and that Mercian doesn’t become another once-proud name affixed to cookie-cutter bikes from China, Indonesia or some other “sweatshop” country.


09 May 2020

Mavic: Yellow Blues

Once upon a time, a "dream" bike would be outfitted with Campagnolo Nuovo or Super Record components.  I finally did get my dream after a few years of riding, a bunch of part-time jobs on the side and a few skipped meals.  

In those days, Campagnolo didn't make rims.  At least, no hoops bore the Campy's logo. (I have heard, from various sources, that the rims Campagnolo would offer later were actually made by FIR.)  So, you chose from a number of other manufacturers.  Super Champion of France was popular in the day; in fact, my first "nice" wheels bore their rims.  So were Rigida, Nisi, Fiamme and Weinmann.  But most of us agreed that the "name" brand for rims was Mavic.  I rode their jantes on my first all-Campy bike--and most of the bikes I've ridden since.

During the '80's and '90's, Mavic was a veritable juggernaut in the world of rims and wheels, much as Shimano was (and, arguably, still is) among other bicycle componentry.  They produced the best tubulars and developed the first lightweight clincher that, combined with Michelin's Elan tire, could rival the weight and performance of tubulars.  A decade or so later, they developed some of the first really good rims for the then-nascent sport of mountain biking.

To this day, Mavic is best-known for its rims and wheels.  But it also produced some really nice componentry.  Its 451 brakes are believed, by some, to be the finest single-pivot sidepulls ever made. (Actually, Dia Compe made them for Mavic, who designed them.)  They are certainly among the most beautiful.  And, interestingly enough, Mavic's first products in 1889 were mudguards (fenders to us Yanks).

Mavic has contributed to the world of cycling, not only through its technical innovations and quality manufacturing, but also through its support of various teams throughout the years--and its neutral technical support of the Tour de France.  Their support cars and bikes are yellow, like the comany's label--and the Tour de France leader's jersey.



Sadly, however, reports from Agence-Presse France say that Mavic has been placed into receivership by a commercial court in Grenoble, near the company's Annecy, France, base.  "Receivership" is initiated by creditors or banks that believe a company cannot pay its debts.  This differs from "administration," which can be initiated by a company's directors.  The result of "receivership" is that the company is taken over by a court-appointed "reciever" who controls the assets and tries to keep the company out of liquidation.

As much as I like Mavic's rims and some of their other stuff, I'll admit that if I were more of a weight weenie, I'll admit that they're no longer the "go-to" they were, say, twenty or even ten years ago.  Some of that drop in prestige has to do with other companies making stuff that's lighter or just sexier.  So, it's not a surprise that Mavic's sales have not kept pace in recent years.

The real problem for Mavic, though, seems to be that nobody seems to know who actually knows it. Solomon, best known for ski equipment, bought Mavic in the mid-90's; a few years later, Adidas bought Solomon.  Amer Sport, a Finnish group,  would later become the main shareholder of Mavic.  Amer removed Mavic from its accounts in 2018 and sold the company to Regent LP, a California investment fund, last July.


So, the employees of Mavic, who are unionized, believed that their company was in the hands of Regent.  But, for some reason, they were not informed that the sale didn't go through and Mavic was instead acquired by a Delaware-based entity called M Sports International LLC, which has no links to Regent--and practically no traces on the Internet.

This sounds like the makings of a mystery novel.  The thing about novels (and plays) is that if they're great to read or watch, you should be happy that you don't have to live them.  The employees of Mavic want to know what their future is.  So do many of us who use their products.