Major British sports brand collapses into administration with 42 redundancies

UK cycling distribution company Saddleback has collapsed into administration, resulting in all 42 employees being made redundant.Staff were informed of the closure last Friday, with the business confirming it was no longer operational, as of Friday May 29, 2026 in an automated email response.The Business Desk reported the company had filed a notice of intention to appoint administrators following a prolonged period of financial difficulties.Two internal sources also confirmed to Cyclingnews that the entire workforce had lost their jobs following the collapse. TRENDING Stories Videos Your Say Founded in 2004, Saddleback described itself as the UK home of elite performance products and distributed several high-profile cycling brands across Britain.The company had been struggling financially for several years.Accounts showed Saddleback recorded pre-tax losses of £1.6million in the year ending January 2025 after posting losses of £2.3million the previous year.The collapse followed the loss of two major brand partnerships within weeks of each other.American bicycle manufacturer Cannondale ended its distribution agreement with Saddleback in March and returned to a direct-to-dealer model for UK sales.The partnership had lasted just 15 months, despite Saddleback previously describing the arrangement as transformative in its financial accounts.High-end wheel and bicycle manufacturer ENVE also ended its relationship with the distributor in February after working together for 15 years.The timing of Cannondale’s exit proved particularly significant, occurring just two months before Saddleback filed its notice of intention to appoint administrators.The future UK distribution arrangements for several remaining brands previously handled by Saddleback remain unclear.LATEST DEVELOPMENTSHMRC explains how state pension tax works as retirees face confusionHMRC launches new price hikes for petrol, diesel and electric cars today in blow to thousandsBritons with dementia miss out on DWP support worth hundreds: 'People don't know help exists!'The company’s portfolio included Castelli, Chris King, Rudy Project, Sidi and Sportful.The Cannondale partnership had significantly increased Saddleback’s revenue, helping turnover rise by £10million to around £24million during the financial year ending January 2026.Despite the increase in sales, the company had continued working towards financial recovery after consecutive years of losses.Saddleback had previously stated it expected to move close to break-even - before interest, taxes, depreciation, and amortisation - through its partnership with Cannondale.However, the departures of both Cannondale and ENVE within a short period ultimately proved too difficult for the business to absorb.Customers seeking support or product information have been advised to contact brands directly through the company’s automated response system.Saddleback’s collapse is the latest setback for Britain’s cycling sector, which has faced ongoing financial pressures since the pandemic.Children’s bicycle manufacturer Frog entered administration in March this year, while former Saddleback competitor i-ride collapsed in 2024.Cycling distributor Moore Large also entered administration the previous year.Retailers have also faced difficulties, with WiggleCRC entering administration in 2023 before later being acquired by Frasers Group.The cycling industry has struggled with excess stock levels following a surge in demand during lockdown periods, which was followed by weaker consumer spending once restrictions ended.Businesses across the sector have also faced additional pressure from the wider cost of living crisis and weaker consumer demand. Our Standards: The GB News Editorial Charter