Sad news from Wisconsin a few days ago, Waterford Precision Cycles will no longer be taking any new orders and plans to close its doors after fulfilling all current orders. As initially reported by Bikepacking.com, this closure will include Gunnar Cycles, as well. Waterford Precision Cycles has built custom bikes under the Waterford badge for four decades, and fabricated Gunnar Cycles frames and forks as an option for a lower-cost, production frameset available in stock, non-custom sizes.
It was way back in 1981 that Waterford took over the Schwinn Paramount production. Under the leadership of Richard Schwinn, the small bicycle frame manufacturer produced iconic hand-built custom, high-end, steel frames that became synonymous with quality craftsmanship.
After a large number of long-time employees are soon to be retiring, Richard Schwinn has decided to retire and close up shop to spend more time doing something else. I would imagine after “doing the bike thing” for as long as the Schwinn family has, it would be an attractive thought to find something else to do in your later years.
In some of the groups I follow, the word (aka, the bike rumor) is that in the email Richard Schwinn sent out to his existing dealer network, the implication was that somebody may take over the business, in whole or in part. But that it isn’t firmed up enough to disclose any specifics.
Fingers crossed.
So, this may not be the final end for them, just yet. Stay tuned.
