The makers of exotic Mad Fiber carbon wheels have filed for bankruptcy six weeks after news emerged that production had stopped at the brand’s Seattle factory.
According to Bicycle Retailer, Divine Cycling Group (DCG), which bought Mad Fiber Wheels – known for its radical carbon wheel design – in February, has filled for bankruptcy in Delaware, owing more than 100 creditors $1.65 million (£1.01m).
DCG also owns Serotta bikes, which stopped production of handmade frames in August.
Earlier this year, Mad Fiber released wheels with new spoke patterns, freehub designs and design options.
A court date to hear the bankruptcy file is scheduled for 30 December.