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Iron Horse sale negotiations still underway

By:
James Costley-White, BikeRadar.com
Published:
March 26, 2009, 0:00 GMT,
Updated:
April 20, 2009, 21:04 BST
Edition:
MTB news & racing round-up for March 26, 2009

By James Costley-White, BikeRadar.com United Kingdom Iron Horse importers Jim Walker say...

By James Costley-White, BikeRadar.com

United Kingdom Iron Horse importers Jim Walker say negotiations are still underway for the sale of the brand after its parent company became a victim of the recession in America. In a statement, the firm said the problems in the US would have little impact on Iron Horse's UK range, as this year's bikes have already been delivered.

They said UK distribution was continuing with back-up stock, and any service issues should be directed to Jim Walker as usual. Jim Walker said that, despite the difficulties with Iron Horse, they had enjoyed record levels of trading in the first quarter of 2009.

"It’s a shame when the owners of such a strong, desirable brand as Iron Horse fall victim of the recession in America," said company CEO Ian Wilson. "Particularly when it's so different to our experience here in the UK, where our results are not only at record levels, parts of our business have doubled in the first part of this year and we have some incredible new opportunities.

"Naturally any change of ownership of a brand takes time to sort out so, unfortunately we all have to be a little patient at the moment to see where it ends up. But from what we have been told, we are confident of a strong ownership for the brand in the future."

Walker said they had agreed new distribution arrangements for a number of very desirable brands, details of which will be announced soon. Last week, reports suggested three Asian factories had filed an involuntary petition for bankruptcy against Iron Horse in an effort to recoup more than $5 million in back debt.

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