Montone Cycling Bankrupt
BEVERWIJK, the Netherlands – Montone Cycling, the Dutch distributor of the bike brands Montego and BeOne as well as P&A labels Edco Wheels, Catlike and Etxeondo, was forced to close its doors earlier this week.
Montone Cycling was founded by the Nimbus investment group on February 1, 2012. Montone Cycling was started after Blomson International sold its bike brands Montego and BeOne to Nimbus.
Montone Cycling CEO Rolf Timmerman blames the bankruptcy to the economic situation in the Netherlands. “2012 has been a very tough year for the Dutch bicycle market, making it extremely difficult for us as a start-up company”, says Timmerman.
“We have done our utmost and fought hard to the end, but things still went wrong. Montone Cycling was on the right track. A recent survey by the Dutch dealer association BOVAG indicated that we scored high in retailers’ appreciation.”
Receivers Steenhuisen and Van Voorbergen of the Tanger law firm are currently investigating a possible restart of Montone Cycling.