Saracen was one of the first UK companies to get into mountain bikes – back in the day a Trekker Comp with twin U-brakes was a damn cool thing. These days the company is known more for budget MTBs and trials bikes, but there’s some tidy high-end stuff in the range too. It’s all change at Saracen, though. Bike trade magazine BikeBiz reports that owners Paul and Rick Stanforth put Saracen Cycles Ltd into administraion last Friday, citing “difficult trading conditions”. BikeBiz quotes Paul Stanforth as saying:

“Having suffered considerable costs in the move from manufacturing to importing, followed by difficult trading conditions in the important Christmas quarter, Saracen Cycles Ltd. took the steps to go into administration in Friday February 3rd. The decision was taken to safeguard jobs and stop further losses to the company.”

Saracen used to assemble bikes in its Warwick factory, but a couple of years ago started doing what most of the rest of the bike industry does and had all the assembly done overseas. The change left it wih oversized buildings and too many staff. Investment talks with Merida (one of Saracen’s main suppliers and part-owner of Specialized) broke down earlier this year.

But it’s not the end for Saracen. Saracen Bikes Ltd is a new company (with the Stanforths being the main shareholders alongside an investor from outside the bike trade) which has bought all the stock, goodwill and intellectual property rights of Saracen Cycles Ltd. Saracen Bikes has also taken on responsibility for Saracen Cycles’s warranties, so fear not if you already have a Saracen. The new company will be moving to smaller premises and the 2006 bike range will be presented to the trade in the next few weeks.

In related news, the MAD trials display team (current sponsor: Saracen Cycles) is looking for a new sponsor. Team boss Giles Wolfe can offer potential partners national TV and press coverage, a big presence in schools and exclusive presence at key UK festivals and shows. Apparently the MAD team is seen by over 10million people per year, which we guess is the power of national TV…