Founded in 2000, the 23-year-old legacy of the Parlee Cycles suffered uncertainty followed by filing bankruptcy. Known for its exceptional custom carbon frames, the American cycle brand has been taken over on October 1st, 2023 reviving the organization.

The founder of Parlee Cycles, Bob Parlee started his journey with just a one-man army and will work as the Chief Designer focusing on the design and development of the products. Let us go through this article to find out the new owner of Parlee Cycles and the journey of the brand.

A fresh beginning after a long hiatus

The Parlee Cycles filed for Chapter 11 bankruptcy back in February 2023 in Massachusetts. With this move, the organization aimed at reorganizing structures while keeping the business running looking for capital infusion from an investor. Deterred by the pandemic, Parlee Cycles faced problems with low component availability and failed cash flow management caused by an ineffective supply chain.

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During such a distressful time, John Harrison, an independent investor stepped in to revive the company. Harrison extended his passion for cycling while bringing a wealth of experience to the brand from the technology sector. In an interview with Cycling Weekly in his statement Harrison shared his views, “There are many thousands of Parlee fans around the world and I am delighted to be able to shepherd the organization into this new era and continue to deliver products that delight our customers.”

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Harrison further informed that they are working on amazing new projects that will be announced in the upcoming years as a part of their business expansion.

A new dawn of growth and revival

With the 100% acquisition of the brand along with the cycles, from now onwards Parlee Cycles will be operational under their new entity named Parlee Composites Inc. John Harrison assuming the dual roles of CEO and President has committed himself to helping the brand achieve global acclimation by launching new exciting models. 

The company is poised for growth with the long-term goal of regaining its reputation as the leading manufacturer in the bike market. Both the former and the present owners of the brand are optimistic about this new chapter aiming to implement positive changes within the operations of the company.

Amidst the intervening process, the existing employees will transition into the new organization without any impediment. Harrison has assured that to widen their customer base they will be implementing a seamless experience making fulfillment of customer orders their priority.

The shared vision of the former and the present founder will enable Parlee Composites Inc. to reach the pinnacle of success scaling the business to unimaginable heights. The acquisition after the bankruptcy has set the organization on the correct path toward achieving a promising and dynamic future. 

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