Last year, Kona Bikes abruptly ceased operations in the middle of setting up for Sea Otter. This year, it appears that Revel Bikes may be closing just after Sea Otter, and just after launching three new bikes.

According to an email that was sent out to dealers as reported by BRAIN, the Radavist, and MTBR, Revel Bikes “as it currently stands” is closing. The email cites the brand losing its financial safety net, and control has been given to a bank and the company is in an “orderly wind down.”

So far, any other indication of the brand closing is very limited, with only Linkedin posts by Product Manager Matt Boughton and Director of Finance Ola Verploegh seemingly confirming the news.

The Revel website is also showing host errors when trying to access features like the dealer locator.

We’ve reached out to all of our contacts at Revel to try and gain more information, and we will update this post if we hear back. For now, we’ll be here mourning the loss of yet another awesome bike company.