Hotchillee has become the latest casualty of the current punishing climate for cycling events.
The organisers of numerous well-regarded events including London to Paris and more recently the Stone Circle gravel event, Hotchillee have been trading for 20 years and built up a loyal following.
But, in a statement released this week, founder Sven Thiele announced that the company was being liquidated with all upcoming events cancelled.
"It is with deep sadness that I must inform you that we have formally instructed Ben Stanyon and Nedim Ailyan, of FRP Advisory Trading Limited, to assist us in placing the Company into liquidation in the coming weeks, due to financial difficulties experienced in recent years," opens the statement.
The news echoes the demise of several other well established cycling event organisers, with Tweedlove and SportiveHQ among the casualties so far this year.
As with other events organisers it appears that the combination of Covid and the current economic climate have done for Hotchillee.
The company was also impacted by Brexit, which added significant expense and logistical difficulty to their flagship London to Paris ride with complex paperwork now required for all participants' bikes on the cross-Channel event.
"Despite our best efforts, the combination of internal matters, ongoing financial challenges following COVID-19 and the Brexit referendum, without sufficient capital injection to continue trading, as the Director, I have sought for advice in dealing with the Company's affairs," continues Thiele's statement.
"After 20 extraordinary years, this is a devastating blow to all of us at Hotchillee, as well as to our loyal community and Partners.
"The Hotchillee App has been closed down and Premium Hotchillee membership subscriptions have been stopped.
"We greatly value and appreciate our community, and we sincerely apologise for the abruptness of this announcement and the inconvenience it may cause."
As recently as last year Hotchillee launched a new cycling tour in Sri Lanka, but this has now been cancelled along with future editions of the Stone Circle, London to Paris Gravel and the company's popular series of social rides.
Customers with queries are being advised to contact the administrators at [email protected].
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