Exotic composites wheel manufacturer Mad Fiber has stopped production and could be on the verge of bankruptcy after just fours years of business.
The company’s chief financial officer Russ Riggins told Bicycle Retailer that the firm had shut down production several weeks ago.
And Ric Hjertberg, who co-founded the company in 2009 said on his blog that he left as the business began “choking on a series of decisions in which I was not involved.”
He said the company will “go to bankruptcy” shortly.
Seattle-based Mad Fiber developed a reputation for developing a novel approach to wheel-building. Their first road wheelset weighed 1075g.
Earlier this year, Mad Fiber released wheels with new spoke patterns, freehub designs and design options.