After some speculation, specialist bike retailer The Pro’s Closet (TPC) today confirmed that it will shutter its operations in October.
What initially appeared as an “End of Season” sale on their website was soon outed on social media as a “Going out of Business” sale, with discounts reaching up to 75% across their entire range, including bikes, wheels and apparel.
Founded in 2006 by former professional mountain biker Nick Martin, TPC initially started as a personal venture to resell used cycling gear on eBay. Martin’s vision of providing high-quality pre-owned gear to a wider audience soon took off, transforming the business from a side hustle into a fully-fledged company. TPC professionalised the process of buying and selling used bicycles, with an emphasis on inspection and certified quality.
The pandemic-era cycling boost was good for TPC. In 2021, the company upgraded its modest 24,000-square-foot headquarters in Boulder, Colorado, to a sprawling 137,000-square-foot facility, dubbing itself “The Metro Area’s Largest Bike Store.” That same year, TPC raised $40 million in funding to fuel its expansion, allowing it to double its workforce and celebrate a fivefold increase in revenue compared to 2019.
However, TPC’s sales took a sharp turn when the COVID boom burst. Economic uncertainty, supply chain disruptions, and increased competition all contributed to its struggles. Its leadership saw frequent changes as the company tried to pivot and adapt. 2023 proved particularly challenging, with TPC experiencing two rounds of layoffs, suggesting that the writing was on the wall.
TPC said that since its founding, it has helped “over 160,000 customers find their perfect ride and have sold more than 46,000 bikes. It’s been a hell of a ride, and we couldn’t be more thankful to the customers, employees, and vendors who made this journey possible.”
"This has been an extraordinary chapter in the world of cycling, and we’re incredibly grateful to everyone who has been a part of it," said CEO Jonathan Czaja. "From our dedicated team to the loyal riders and industry partners, your support allowed us to grow and create a lasting impact. While this is the end of the road for TPC, as it operates today, we are proud of what we’ve accomplished together."
As TPC prepares to close its doors, the business is trying to mitigate its losses by offering its remaining inventory at significant discounts. Shop the sale, here.
