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However, the deal is not yet signed, sealed and delivered so confirmation of the new distributor will not be announced until next week.
Madison said the termination of distribution was a "mutal" decision.
"After seven years of working together to establish the Fi’zi:k brand in the UK, Madison Cycles and Selle Royal have mutually agreed to end the Fi’zi:k partnership with immediate effect," said an official announcement from Madison.
"Madison wishes Selle Royal all the best with the brand in the future."
