British outdoor and bike brand Alpkit has entered administration, it was revealed this week. The decision came after a challenging three years of inflation, trade barriers, post-Covid markets, rising interest rates and recovery loan repayments, according to the company’s CEO and co-founder, David Hanney.
"While we have made huge progress, and came incredibly close to a successful turnaround, my Board recognises that these pressures have created an insurmountable mountain for us to climb as we currently stand," he wrote in a letter sent to shareholders on Monday evening.
