Posted by Jonathan Maus (Publisher/Editor) on October 2nd, 2008 at 8:20 am
The founders of Jorg & Olif, a company that was around at the inception of the Dutch Bike Invasion in America, have announced that they’ll sell off the company if they don’t find an investor.
In a statement posted to their website on September 16th, co-founders Rob MacDonald and Jane Cox wrote that their company, “faces some financial obstacles that need immediate attention” and that “Without new capital injection, the partners are considering new paths.”
Jorg & Olif — whose bikes are offered free to guests at the stylish Ace Hotel in downtown Portland — is a Canadian company that I first wrote about nearly two years ago. At that time, there was no Clever Cycles, Seattle Bike Supply wasn’t (yet) selling the Batavus “Old Dutch” in the U.S., and if you wanted a Dutch city bike, you had know a reliable source and then pay dearly to ship the heavy steed across the atlantic.
Jorg & Olif has been selling Dutch bikes in North America since 2004 and they were the first company to set up a shipping operation in the U.S., a move that helped pave the way for the Dutch and urban transportation biking revival in this country.
So, anyone out there looking for a great investment opportunity?
While the economy is scary and uncertain, the bike industry is sitting pretty. Ford Motor Company just reported a 34% sales drop for September, maybe they can gobble up Jorg & Olif and grab onto the coattails of the booming bike business?