Trust Performance has today announced that it will be suspending operations created by slowing consumer demand and uncertainty around continued investment in the company due to the ongoing impact of the Coronavirus outbreak.
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Trust claims it was in a great position up to this point, having sold over 1,000 units and was in the process of rapidly growing its distributor and dealer network.
However, at the start of 2020, things took a turn for the worse – as the Coronavirus took its hold across Asia, Trust Performance’s supply chain was affected and, in February, demand for their forks slowed considerably, too, as people across the globe’s appetite reduced for luxury products.
Next, drops and uncertainty in response to a global slow-down in stock- and investment markets meant that much-needed cash flow to Trust Performance was severed, at a time when more investment was required.
Now, at the start of April, 2020, Trust Performance is going to suspend operations until they can secure more capital funding.
The tone of their press release is truly solemn, and its time, commitment and passion for getting this project off the ground make the decision to stop even more painful.
Trust has assured current owners of the fork that they’ll still be able to get them serviced through Suspension Syndicate in Salt Lake City, Utah, an authorised service centre.
It’s always incredibly sad to see any innovative business shut down and we wish all of the Trust Performance’s employees the best and hope that they will be able to continue to innovate.