Serotta lays off workers, prepares to close

Serotta has a bit of a rough go of it lately. The recession, new competition, and increasing overhead meant the company has had cash flow issues in the past few years. 

Today the CEO, Bill Watkins, told Bicycle Retailer and Industry News that the company had laid off 40 percent of its workforce and will cease production of its high-end steel, titanium and carbon fiber bikes.

Part of the company had been sold to an investment group last year, and it had recently become part of the Divine Cycling Group, which also owns Blue Competition Cycles and Mad Fiber wheels but Watkins told BRAIN that the promised cash infusion never came.

Serotta has continuously developed new products since its first bike in 1972. The Fondo SG and Pronto SG (pictured here) are two new models that now might never see full production.
 

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