Ipswich-founded bike chain sold to Giant UK, saving 21 jobs

Why it matters: The sale secures the future of a family business founded in Ipswich in 1984, with branches in Ipswich, Colchester and Norwich that sell bikes, cycling accessories, clothing and shoes and provide a repair service.

The details: Dominic Dumville and Henry Page of Mercer & Hole were appointed joint administrators of Thomas's Cycle Revolution Limited on 23 March 2026.

• The administrators have completed a sale of the business and certain assets to Giant U.K Limited.
• The transaction preserves 21 jobs across the region.
• Mercer & Hole says the sale will also result in a better return for creditors.

What they're saying: Dominic Dumville, Partner at Mercer & Hole and Joint Administrator, said: "The successful completion of this transaction has ensured a well-known family business continues to operate in East Anglia preserving 21 jobs throughout the region. The sale will also result in a better return for creditors."

Ian Beasant, Managing Director of Giant UK, said: "These stores have long been an important part of the Giant UK network, so we're very pleased to secure their future and build on the strong foundations already in place.

"We're looking forward to working closely with the experienced teams on the ground and ensuring continuity for customers and local cycling communities across East Anglia.

"This represents a positive step for the business in the region, and we remain committed to supporting riders through quality products, expert service and a welcoming retail environment."

For context: Thomas's Cycle Revolution filed a Notice of Intention to Appoint Administrators in February. At the time, director Darren Thomas said operations were continuing normally while the company reviewed its position and considered next steps.

The business was founded in Ipswich in 1984 by Richard Thomas, who opened the first Thomas's Raleigh Cycle Centre stocking Raleigh bikes. It was rebranded Thomas's Cycle Revolution in 1993 after taking on additional manufacturing brands, and expanded over the decades to include stores in Colchester and Norwich. The company is based on Foxhall Road in Ipswich.

The chain also operates Giant-branded stores in Cambridge and Norwich, having partnered with the manufacturer to open a Giant Brand Store in Norwich in 2017.

The bottom line: The sale to Giant U.K Limited brings an Ipswich-founded family business under new ownership after more than four decades of independent trading, with 21 jobs preserved across its East Anglian branches.

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