Serotta lays off 40% of workforce, planning shutdown

[Tom]

Yes, I immediately freaked out and called them up because my Legend frame is up there getting a cracked dropout replaced. They reassured me that they are planning to fulfill their commitments for new orders, RAs and warranty work. It was a sad phone call, I felt bad for doing that, they were really understanding of how I could be apprehensive but what struck me the most was it was like the person I talked to was grieving for the company more than he was worried about himself.

[Nooch]

Originally Posted by Tom

It was a sad phone call, I felt bad for doing that, they were really understanding of how I could be apprehensive but what struck me the most was it was like the person I talked to was grieving for the company more than he was worried about himself.

I've gotten that feeling from every employee I've ever met.. there's a pride behind the company that I can relate to, and I'll be proud to ride (what may be) one of the last frames out of that shop

[David Kirk]

Originally Posted by Nooch

I've gotten that feeling from every employee I've ever met.. there's a pride behind the company that I can relate to, and I'll be proud to ride (what may be) one of the last frames out of that shop

You hit it right on the nose - there is a deep pride.

Dave

[bicycletricycle]

what a shame.

[shovelhd]

I am looking forward to the restructuring. They're not dead yet, as long as Ben and Bill stick together.

[tuscanyswe]

That is sad! I dont have any need nore fonds but i was somehow still considering a pronto.

Hope i get another shot at buying a serotta in the future.

[cc700]

http://www.bicycleretailer.com/north...n#.Ufk3fVOvVL9

[MattTuck]

Watkins said Serotta has closed its factory in Poway, California, and laid off all the employees there. Serotta's remaining bike builders in New York were working to complete orders.

That's a bummer. I visited that factory. Mike Lopez gave me a tour. Super nice guy and was impressed by what they were doing.

[LegendRider]

This question is probably worthy of a new thread, but, with hindsight, what should Serotta have done in the last 20 years? (IMO they were on a 20+ year business, not technology, decline - from 7-11, Coors Light, intro of the Legend to today's sad news)

[ultraman6970]

When the stuff gets hard you have to bring investors and those basically see only dollar signs and decide what to do. Sad situation, all I can say.

Hope he is able to get a new brand back up anyday soon.

[slidey]

Speaking from a practical standpoint, I can't see what Ben/Bill or Ben/Bill/every employee of the erstwhile Serotta sticking together can achieve without a radical evolution of their marketing strategy.

Originally Posted by shovelhd

I am looking forward to the restructuring. They're not dead yet, as long as Ben and Bill stick together.

[SpokeValley]

I'm wondering, and this is for brainier folks than I, but...

If DCG didn't provided the funding that would have 'consumated the deal', would there still be a deal?

I'm hoping that Ben would at least retain his brand name. It's his name after all...

[jr59]

Originally Posted by slidey

Speaking from a practical standpoint, I can't see what Ben/Bill or Ben/Bill/every employee of the erstwhile Serotta sticking together can achieve without a radical evolution of their marketing strategy.

I'm pretty sure I'm in this camp.

[19wisconsin64]

Sad to hear, such a great brand. I hope they can find a way to continue on somehow.

[tuxbailey]

terrible news.