Published: 23 January, 2015
by ALINA POLIANSKAYA
AN independent bike shop has closed its doors and been put on an internet auction site for 99p.
The owners of Holloway Cycles say on an eBay listing that they are looking for someone to take over the shop lease, which comes with a £22,000 rent and business rates of £6,000.
The deal is described as a “fantastic opportunity to take over an existing business for free”.
Managers of the shop in Holloway Road did not wish to comment when contacted by the Tribune but said on a Facebook post: “It is with deep regret that Holloway Cycles is no longer open. We were in the middle of negotiations to sell the business but the deal unfortunately did not go through, resulting in us being forced to close the shop.
“Staff have all moved on to other jobs within the industry and we wish them all the best for the future.”
David Shannon, secretary of Islington Cycling Club, said: “When it comes to sales of bicycles, it has become hard for independent shops to compete against the online and chain bike shops, who tend to buy up most of the stock of the main bike manufacturers.”