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Bike Boom Burst: Post-Pandemic Slump Leaves Industry in Turmoil

The cycling industry experienced a surge in sales during the pandemic, with a 64% increase in 2020. However, the demand plummeted once lockdowns lifted, leaving manufacturers, suppliers, and retailers with excess inventory. Despite a 5% decrease in adult riders from 2022, cycling remains more popular than pre-pandemic levels. Brands are resorting to deep discounts to clear stock. Chattanoogas Lynskey Performance Products, a titanium bike maker, filed for bankruptcy in April 2023, with assets under $50,000 and liabilities ranging from $1 to $10 million. Industry leaders predict another challenging year in 2024, but the increase in riders suggests a potential rebound if the excess inventory can be sold.

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