New owners of collapsed cycling retail chain say rising costs were behind demise
Giant UK bought the family-owned retailer - which has stores in Ipswich, Colchester and Norwich - out of administration.
Giant UK managing director Ian Beasant said the stores' 21 staff - who are now transferred over to the new business - had faced uncertainty but are a strong asset to the business.
Ian Beasant, manager director of Giant UK Ltd, which has bought Thomas's Cycle Revolution out of administration (Image: Giant UK)
Leading bicycle manufacturer Giant - which is still operated by its founding family - was founded in 1972 and is based in Taiwan.
"We want to ensure customers are fully supported - particularly around warranties, servicing and ongoing care - while also making sure store teams feel confident and well supported," said Mr Beasant.
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"Giant brings stability, scale and long-term commitment.
"This isn’t about changing what made Thomas’s Cycle Revolution special, but about supporting those teams and communities with the right structure and investment to help them thrive going forward."
Thomas’s Cycle Revolution has been a trusted Giant partner for more than 30 years, he said, and one of the UK’s leading bicycle retailers - but it hit tough times.
"Like many in the sector, it faced significant pressures in recent years, rising costs, softer consumer spending and post-Covid cash flow challenges," he explained.
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"What has always stood out, however, is the strength of the people within the business, knowledgeable staff, excellent customer service and strong local cycling communities built around each store.
"Giant brings stability, scale and long-term commitment.
"This isn’t about changing what made Thomas’s Cycle Revolution special, but about supporting those teams and communities with the right structure and investment to help them thrive going forward."
The focus will be on supporting store teams while ensuring customers receive the advice, aftercare and support they expect "whether they’re buying a bike, getting it serviced or simply looking to find likeminded people to ride with", he said.
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Giant wanted to offer continuity and reassurance, he added.
"We’ll take the time to listen, to staff, customers and local communities and build from there in a way that is sustainable for the long term."
Store signage will begin to transition to the new brand in May - with store refits planned for later in the year, he said.
"There’s no rush, the priority is getting the experience right first," he said.
There was a "strong sense of positivity" among staff who are "passionate and knowledgeable" and care deeply about their customers and local cycling communities.
"Being part of a global brand like Giant provides a sense of stability, which has been encouraging.
"There is a clear desire to continue doing what they do best, supporting riders and building strong local connections."
Giant has operated in the UK since 1989, working closely with the independent bicycle retail network.
It says its ambition is to "develop a strong, sustainable retail network that supports cyclists at every level".
Mr Beasant has spent most of his career in the cycling industry and has been with Giant for nearly 35 years.
"Thomas’s Cycle Revolution was one of my earliest customers and we’ve always focused on building a strong, sustainable business, not just in terms of products, but in how we support retailers, customers and the wider cycling community," he said.
"What drives me is a passion for creating great customer experiences, whether that’s someone buying their first bike or a more experienced rider.
"Being part of a global business-like Giant, while operating locally in the UK, gives us a strong platform and it’s something I’m excited to continue building as we look to the future.
