Discussion Starter · #1 ·
Apparently Jamis is in a bit (maybe a lot) of financial trouble. An article in the most recent issue of Bicycle Retailer and Industry News reports that Ideal Bicycle Co. was recently awarded a claim in excess of $500k from G. Joannou Cycles (owner of Jamis). Apparently Jamis did not dispute that it owed Ideal money, or the amount owed, but simply said that the did not have the funds to make payment. The court apparently cleared the way for Ideal to begin seizing Jamis' assets. Anyone out there have any more information on this? I was considering picking up the Jamis line for my shop, but this news has definitely put that on hold. Bummer!