InvestorQ : Is the decision of Atlas Cycles to shut down operations mean the end of the company?
Anu Biswas made post

Is the decision of Atlas Cycles to shut down operations mean the end of the company?

Answer
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Neelam Naik answered.
3 months ago


One of India’s most iconic manufacturers of bicycles, Atlas Cycles (Haryana), shut its last manufacturing unit in Sahibabad, due to paucity of funds. The company insists that the shutdown is temporary but market reports is that they may be getting out of the cycles business altogether. Atlas Cycles faced mounting losses since 2014. Towards the end of 2014 it shut its Malanpur plant and then the Sonepat plant in early 2018. Manpower at the plant had already been cut by half last year.