Race Face

[AKWL]

Just heard from a reliable source that Race Face has gone into receivership and is closing up shop! Cash flow problems, apparently.

Sad day for a cool company that was making some great products. Worse day for the 50 Vancouver employees and international staff.

[rideit]

It's all MEC's fault!

[Eluder]

Yeah pretty much a thread about it on all the forums. Feel bad for the employees, hard to replace there jobs in the same industry.

[mrryde]

http://www.pinkbike.com/news/Race-Fa...the-Doors.html

[Arty50]

Bummed. I've been really happy with their cranks.

[gravitylover]

http://www.bikebiz.com//news/read/raceface-closes

[Harry]

I have used Race Face components on 4 different bikes. Solid stuff. I would have kept spec'ing my bikes with Race Face from here on out if they had stayed in business.

From pinkbike.com is this nugget:

"(Race Face) owner got a huge loan from the bank based on fraudulent inventory valuation statements. With the money, he paid himself a ridiculous wage: >$30k/mo. Bank auditors finally figured out what was up and shut the place down. He's facing a civil suit for the loan (over $3MM) as well as likely facing criminal charges."

[toast2266]

But what about the lifetime warranty on my turbines!?!?

[joetron]

I have used Race Face components on 4 different bikes. Solid stuff. I would have kept spec'ing my bikes with Race Face from here on out if they had stayed in business.

From pinkbike.com is this nugget:

"(Race Face) owner got a huge loan from the bank based on fraudulent inventory valuation statements. With the money, he paid himself a ridiculous wage: >$30k/mo. Bank auditors finally figured out what was up and shut the place down. He's facing a civil suit for the loan (over $3MM) as well as likely facing criminal charges."

Holy shit does that make me angry. I knew there had to be something super shady occurring on the executive level because they have been expanding their lines and producing incredible product. The NextSL Carbon/Ti cranks are a thing of North American beauty. This is so fucking sad. I really hope someone comes to the rescue of the brand and product, but that is not sounding likely. Its probably gonna get flushed down the shitters of chainreactionlovepointsonbria. A damn shame.

[marshalolson]

i figured it had to be somehow ultra shady embezzelment style something.

my left field guess is someone along the lines of devinci (or dekerf ), buying the goods and brand and keeping it going.

[mntlion]

would be nice to see Rocky bikes buy the name back.... Full circle.

[iscariot]

http://www.sicklines.com/2011/03/14/...s-doors-today/

http://www.bicycleretailer.com/news/...tail/5219.html

[iscariot]

would be nice to see Rocky bikes buy the name back.... Full circle.

Absolutely.

They should also re-introduce the clothing and padding/protection line as Roach.

[DasBlunt]

I remember my first raceface headset. sad day.

[SB]

I have RF parts and gear, good stuff, even got one of their stickers on my car. Bummer.

[altagirl]

That's truly disgusting that a great company was destroyed by the owner's greed.

Bummer since their armor just keeps getting better. Loving the Flank reactive knee/shin guards. And their women's specific DIY knee/shin guards are really impressive. I would not have suspected there was that much of a difference between male/female calves to matter much, until I tried those on. Hope somebody picks that stuff up.

[iscariot]

http://raceface.com/

Website is up. Wonder if someone bought raceface.

[Eluder]

They are Back!

http://www.pinkbike.com/news/Race-Fa...Continues.html

After over 18 years of business, Race Face entered into receivership on March 12, 2011, leaving a massive gap in the boutique mountain bike market. Riders, dealers and distributors alike were stunned as groundbreaking components such as Atlas Freeride, SIXC, NEXT SL, and Turbine suddenly became rare collectables.

In a tightly contested bidding war for the Canadian manufacturer, North Shore local and former Race Face VP of Sales Chris Tutton has emerged at the helm. Tutton joined Race Face in 1994 as a customer service rep, was promoted to Director of Sales in 1998, and then to VP of Sales in 2002. After 14 years with the brand, Chris was instrumental in helping push sales to over $15 million per year. He resigned in 2008, taking over as Director of OEM Sales for Easton Bell Sports.

“I have always believed in the Race Face brand and in the quality of the products we make,” said Tutton. “We will build upon a very solid foundation and continue to meet the needs of our current customers, while expanding our market and focusing our product line.”

Chris Tutton will remain as a contractor with Easton Bell Sports, hiring an additional OEM sales person who will report to him while he rebuilds Race Face as its new Managing Director. “The opportunity to work with a company like Easton Bell Sports has been incredible. I am very fortunate, not only to have their continued support, but also to have found a venture that aligns so well with their business philosophy for excellence and innovation.”

“Easton Bell Sports has had a great partnership with Chris over the last three years and we are pleased to continue that relationship. We believe in the synergy that can be created with the two companies.” Bernie Doering, SVP-Global Sales, Action Sports, Easton-Bell Sports.

Derek Wills, Race Face’s former Global Operations manager and most recently North American Sales and Business development Manager, has also returned as a junior partner. Wills graduated from Simon Fraser University for Business Management, working in the industrial distribution business for 3 years before joining Race Face in 2001.

Race Face Performance Products will remain based in Vancouver, close to the North Shore, the company’s original and ultimate testing ground for lightweight yet durable MTB products. Key employees will be rehired under the new business structure and production is expected to restart within a few weeks. Warranties will be honoured on all Race Face products.

The component product line for 2012 is complete and ready to roll out, including the new Atlas FR Stealth line. Turbine 9 and 10 speed rings will ship almost immediately, as will Race Face’s carbon SIXC and NEXT cranks and bars. The company will continue to develop and refine their proprietary Optimized Carbon Technology in-house.

Rocky Mountain’s Brett Tippie, a figurehead rider for Race Face since 1995, could barely contain the stoke: “Talk about a fairytale ending and wicked new beginning for these guys! How cool is it to be able to keep it in the homeland? And they’re bringing back the crew that made Race Face legit. As I’ve said before, Race Face is the cat’s ass! Stay tuned for more news - I’ve already heard the rumour of 83mm carbon cranks!”

“This is fantastic news,” said Darren Mabbott, Managing Director of Silverfish, Race Face’s UK distributor. “I was always confident that a buyer would be found for Race Face, but to hear that Chris Tutton has bought Race Face is a huge boost to the brand. I have known Chris and worked with him for over 12 years. He is passionate about Race Face, focuses on quality and innovation, and brings a high level of professionalism to the table. Race Face will thrive under Chris’ control, and the future once again looks bright.”

[joetron]

Fuck. Yes.

[stuckathuntermtn]

what's the over under on Easton buying him out? hehehe.

[drsmonkey]

Race Face cranks and bars are back on my list for the new bike. Stoked!

[Arty50]

Fuck. Yes.

x2

I love my Atlas FRs.

[Missiongravity]

Awesome purple bars shall once again be available!! I love colorful parts.

[SkiJunky05]

Oh hellllllls yea!

[beaterdit]

Good news, always liked thier stuff.