London-based bike subscription service Buzzbike closing next week

Buzzbike's co-founders: Tom Hares and Andy Nunn - (Buzzbike)

A London-based subscription bike firm which served 20,000 people will shut up shop citing “difficult economic circumstances”.

Vauxhall-based Buzzbike, which supplied bikes and e-bikes to commuters for a monthly fee, said it would close on November 15 due to “escalating costs and difficult economic conditions that have impacted the whole bike industry.”