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Company had been managed by a turn-around firm since February. Regent, which announced it had bought the brand last March, has no comment.
Mavic's headquarters near Annecy, which it shared with the ski brand Salomon.

ANNECY, France (BRAIN) — Mavic has been put into receivership at the French commercial court in Grenoble, after being put under the management of a turnaround firm in February.

GoPro revenue fell 51% in the first quarter of 2020.

SAN MATEO, Calif. (BRAIN) — GoPro Inc. said Thursday afternoon first-quarter revenue fell 51% year-over-year, in line with what the company predicted last month after announcing a workforce reduction and a transition to direct-to-consumer sales in the wake of the COVID-19 pandemic.

Tagged Earnings/Financial Reports
USA BMX tracks are gradually reopening in the US.

GILBERT, Ariz. (BRAIN) — Fifteen USA BMX tracks in six states held "soft" reopenings for practice and races last week under state and city social distancing guidelines established during the COVID-19 pandemic.

Tagged Coronavirus

NEW YORK (BRAIN) — Peloton's sales grew 66% to $524.6 million in the first quarter, as the brand's Connected Fitness subscriber count grew 94% to 886,100, digital subscribers grew 64% to 176,600 and total membership grew to 2.6 million. 

Tagged Earnings/Financial Reports

BRASELTON, Ga. (BRAIN) — Fox Factory recorded a 1.8% decline in revenue in its Speciality Sports Group, which is comprised of sales of bicycle products sold under the Fox, Marzocchi, Race Face and Easton brands. The company attributed the decline to "a shift in timing of OEM orders."

Tagged Coronavirus / Earnings/Financial Reports

MILAN (BRAIN) — Chimera Investments LLC, an investment fund based in Abu Dhabi, United Arab Emirates, has acquired a majority of the shares in Colnago, the Italian road bike brand.

Tagged Mergers & Acquisitions

FRIEDRICHSHAFEN, Germany (BRAIN) — Eurobike, originally scheduled for Sept. 2-5, has been moved to the late November dates that organizers previously announced as a backup.

Tagged Coronavirus / Eurobike
In the first week, SBA lends $175 billion to small businesses.

WASHINGTON (BRAIN) — The Small Business Administration said Sunday it issued 2.2 million Paycheck Protection Program loans valued at $175 billion in the first week of the second round of federal funding during the COVID-19 pandemic.

Tagged Coronavirus
Ryan Zagata.

BROOKLYN, N.Y. (BRAIN) — Recent "Pandemic Check-ins" have featured executives with large IBD suppliers in Wisconsin, California, and Minnesota. Today we check in with a smaller supplier based in the pandemic's epicenter and who is experiencing a major sales boom — with sales up 600% so far this year.

Tagged Coronavirus
Large companies receiving small business loans leads to more oversight.

WASHINGTON (BRAIN) — The Small Business Administration and Department of the Treasury will make it easier for small businesses to obtain Paycheck Protection Program loans.

Tagged Coronavirus
Tacx sales helped Garmin in the first quarter.

OLATHE, Kan. (BRAIN) — Garmin Ltd. total revenue increased 12% in the first quarter of 2020 year-over-year, with its fitness division that includes smart-trainer sales growing 24%.

Tagged Earnings/Financial Reports
Net sales for MIPS increased 16% in the first quarter.

STOCKHOLM (BRAIN) — Net sales for MIPS increased 25% in the first quarter year-over-year despite the COVID-19 pandemic affecting retailers worldwide.

Tagged Earnings/Financial Reports
Mike Sinyard. Courtesy photo.

MORGAN HILL, Calif. (BRAIN) – Mike Sinyard was in his mid-20s when he founded Specialized Bicycle Components in 1974, selling his old Volkswagen van for $1,500 and leaving for Europe. He came back selling hard-to-find Italian components and two years later launched a Specialized tire for the touring market.

Pure Cycles' Volta e-bike.

MIAMI (BRAIN) — Florida-based distributor JBI, parent of the distributor J&B, has acquired Pure Cycles, an omnichannel bike brand.

Tagged Mergers & Acquisitions

TOKYO (BRAIN) — Shimano reported Tuesday that its first-quarter bike division sales were down 15.4% from the same period last year. Operating income in the division declined 26.1%.

Tagged Earnings/Financial Reports
Thule Group sales decreased 4.9% in Q1.

STOCKHOLM (BRAIN) — Thule Group sales in the first quarter of this year dropped 4.9% as a result of the COVID-19 pandemic that either closed or limited retailers in Europe and North America.

Tagged Earnings/Financial Reports

WASHINGTON (BRAIN) — The U.S. Trade Representative's office has granted tariff exclusions to some more bike-related products. Meanwhile the industry is working to extend the exclusions to the tariffs, which are imposed on China-made products as part of the Trump administration's Section 301 action.

Tagged Tariffs
Retailers can begin applying again for small business loans Monday morning.

WASHINGTON, D.C. (BRAIN) — The Small Business Administration officially received an additional $310 billion in funds to restart its two loan programs that ran out of money last week.

Tagged Coronavirus

MILAN (BRAIN) — Pirelli bicycle tires will now be distributed by KASK America in the U.S., the Italian company announced.

Tagged Distributor news
President's signature now needed to restart SBA loan programs.

WASHINGTON (BRAIN) — The House of Representatives on Thursday night signed off on the COVID-19 relief package that allocates $310 billion to the depleted Paycheck Protection Program to aid small businesses.

The measure passed 388-5.

Tagged Coronavirus

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