HAUPPAUGE, NY (BRAIN)—Nine ex employees of Iron Horse Bicycle Company have launched a new company in the wake of their former employer’s demise.
East Coast Cycle Supply formed on Feb. 1, the day after the group was fired as Iron Horse went belly up.
“It’s been a little bit of a rollercoaster ride, but it’s been fun and exciting,” said Jill Janouskovec, the marketing manager for East Coast Cycle Supply.
Iron Horse Bicycle Company went into bankruptcy on March 2 when three of its primary Asian suppliers filed a petition for Chapter 7 bankruptcy relief in an attempt to recoup more than $5 million allegedly owed to them by Iron Horse.
The new company, which has no affiliation with Iron Horse or its former principals, is headed by Jeff Bruno. The product manager is Tom Barile; Brad Accettella is the product manager/international sales; John Magill is in charge of customer service; Kathleen Wolfe is the graphic artist; and MJ Sureau, Justin Fuchs and Scott Morvillo are all in sales.
The crew is working out of a one-room office in Long Island, New York, while searching for a bigger space. The goal is to come out with a full platform including mountain, hybrid and commuter bikes in 2010 under a house brand.
Janouskovec said East Coast is in negotiations with K2, Columbia and Jeep, which previously had license agreements with Iron Horse’s parent company, World Wide Cycle Supply, to manufacture bicycles under their brands.
“We’re working with them to try and ensure their brands stay in the market,” she said.
East Coast Cycle is also in talks with Tony Ellsworth, who late last year licensed his Instant Center Tracking suspension design to Iron Horse for use on its 2010 bikes.
That license is no longer valid, but Ellsworth said last week that he is open to license “anyone committed to giving their customers the great cycling experience afforded by ICT suspension licensed products.”
Janouskovec said the if East Coast moves forward with Ellsworth, it will develop a new bike line separate from any designs that may have already been created for Iron Horse.