What’s it like to set up a show booth and then have your employer fold on you? Ask Race Face staffers.
Two banks pulled the plug on the Canadian company at the weekend, as reported by BikeBiz.com on Saturday, with the appointed receiver telling staff on Monday their services would be terminated with immediate effect.
Race Face Components had been in business for 18 years, originally producing bombproof mountain bike components from its Vancouver HQ, and latterly outsourcing its production to Taiwan. The company employed 50 people in Vancouver and 20 in Taiwan.
Corporate graphics and product hanging equipment were already installed on the company’s stand at the Taipei show when rumours about the business collapse were made official by the receivers, Grant Thornton.
The show stand has no product on display but the company had ordered chairs and the booth is now being used by show visitors as an impromptu rest spot.
No-one from Race Face was available at the booth, which is natural considering that the folks who sadly lost their jobs will not be able to recoup any travel expenses that wasn’t pre-paid by the company and, in lieu of a rescue, may now need to hand out CVs on the show floor.