Edinburgh Bicycle Cooperative Exits Administration After Nearly 50 Years
1 report, 1 independent
Updated Oct 7
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What happened
The employee-owned Edinburgh Bicycle Cooperative, based in Edinburgh, exited administration after nearly 50 years of operation. The business had been struggling and was seeking a buyer or cash injection, leading to the closure of the Canonmills and Aberdeen shops. Alan Nestor, who had served as Managing Director since 2017, has been appointed to a new role at the cooperative.
From road.cc
Why it matters
The cooperative's failure was attributed by Alan Nestor to enormous pressures from rising costs, a challenging economy, and a difficult market. The administration marks the end of a nearly five-decade-old business model in Edinburgh.
From road.cc
Who's involved
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The entities involved
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Nestor
arbishop of the Russian Orthodox Diocese of Madrid and Lisbon
Nothing else this week.
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Edinburgh
capital city of Scotland, UK