‘Much-loved’ Mercian Cycles saved by cycling fans

In a statement, the new owners describe themselves as “a team of four passionate cyclists”.

“We are delighted to announce the acquisition of Mercian Cycles, a much-loved icon in the cycling world renowned for unrivalled craftsmanship and innovation in bicycle frame design for almost 80 years,” the statement read.

“We have been given an indelible legacy by all the previous owners, which we greatly respect and which we want to honour in the future.”

Fans of the brand include fashion designer Paul Smith, who owns and rides several Mercian bikes.

He says he owes his career to a fall from his Mercian bike in the 1960s and has recently been designing colour schemes for the brand’s bike frames.