Filed under: Uncategorized | Tags: Ben Serotta, bicycle, Bill Watkins, Blue Competition Cycles, cycling, Divine Cycling Group, Mad Fiber Wheels, Serotta, Serotta Colorado
This is about a month old by now.
Serotta said he no longer owns any part of the company or brand that he launched 41 years ago.
Last month, Serotta was merged with Blue Competition Cycles and Mad Fiber Wheels to become the Divine Cycling Group. But the merger did not bring with it any increase in funding for the already-struggling company and Serotta’s managers soon concluded they needed to shut down.
“We had absolutely no choice. We had to face all the truths, and the truth is that unless something changes the best we can promise anyone, including ourselves, is that we will honorably complete the orders on hand,” Serotta said.
DCG officials have not responded to phone calls and emails from BRAIN seeking comment.
But Serotta said he and CEO Bill Watkins have been negotiating to “extricate” the Serotta brand from DCG.