When Marcus Vaughan grew up in Derby, he spent days biking on locally made Mercian bikes. He recalls how the brand was a big name, even with famous riders. After Mercian entered administration in May, Vaughan and three former friends rehired the five‑person team, keeping the art of frame building alive.

Brompton’s troubles illustrate the wider slump. Pre‑tax profits fell by more than 99% in the year to March 2024, to £4,602, dropping to a £1 million loss after tax. The company then sold 15% to Decathlon hoped would boost its future.

The pandemic boom exposed a fragmented supply chain. Only three firms – Shimano, Campagnolo and SRAM – produce most gears and brakes. Scaling up was difficult, creating bottlenecks that left bespoke makers like Caren Hartley’s Isen Workshop unable to meet demand. Retailers faced excess inventory, crushing margins.

Now demand is softening, but the industry lacks the capacity(io) to recover quickly. Small frame builders, such as Tony Phillips, still craft high‑end Pro Lugless 44 bikes, but without sufficient parts supply, production stalls.