Revel Bikes, the Colorado-based mountain bike brand known for its high-performance carbon frames and rider-focused ethos, is shutting down. This closure comes amid mounting financial challenges. The company informed dealers on April 17 that it would cease operations. It cited a combination of product delays, overdue payments, and a soft market as contributing factors to the closure.
Founded in 2019 by Adam Miller, Revel Bikes quickly gained a reputation for innovation and quality in the mountain biking community. The company’s commitment to rider experience and technical excellence made it a favorite among enthusiasts. However, despite its early success, Revel faced financial hurdles that proved insurmountable.
In an email to dealers, Revel’s leadership stated, “Regrettably, though we have tried every avenue possible, we have exhausted all options and run out of funds to support the business. This decision comes at a critical juncture for our capital requirements, and we cannot weather this one alone.” The company owes more than $8 million to its bank and is now in an “orderly wind down,” with little likelihood of funds remaining to pay unsecured creditors.
Industry-Wide Challenges Contribute To Revel Bikes’ Closure
Revel’s closure reflects broader challenges in the cycling industry. The company cited product delays, significant payments coming due, and a very soft market as key factors in its decision to shut down. These issues have affected many in the industry, making it difficult for companies like Revel to sustain operations.
The company’s leadership expressed hope that Revel could be revived under new ownership, stating, “I want to be open to the potential that Revel could be revived to a bigger and brighter future if a new owner comes in while we are going through the wind-down process.” However, they also acknowledged the uncertainty of the situation, emphasizing the limited time available.
Starting Friday, Revel Bikes will be discounted by 40-50% at retail. Dealers who choose to take any more products can make a 10% margin at the new prices, with no terms. Warranty support will end, though the company is seeking a partner to acquire remaining stock and potentially continue product support.
