Revel Cycles is liquidating assets through a UCC Article 9 foreclosure sale scheduled for May 20. The company has listed $8 million in debts and has stated it can no longer operate. Though not officially bankrupt, Revel announced it would close following product delays and a struggling market. The auction will comprise all company assets, including bikes and office equipment, accessible both physically and virtually. This liquidation underscores the unstable financial landscape within the biking industry.
Revel Cycles will be auctioned off to one winning bidder on May 20, concluding its operations due to $8 million in debt and operational challenges.
Despite not being officially bankrupt, Revel's financial woes have forced it to liquidate, leading to a UCC Article 9 foreclosure sale for its assets.
Revel announced its closure following product delays and a soft market in April, stating it had "lost our safety net" amid ongoing financial losses.
The auction will not only feature bikes but may include everything from office furniture to specialized cycling equipment, accessible both in-person and online.
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