Louisville’s The Pro’s Closet to shutter after raising millions

LOUISVILLE — Louisville-based online used bike retailer The Pro’s Closet will ride off into the sunset, announcing its closure this week after raising nearly $100 million from investors over the last decade or so. 

“After 18 remarkable years of serving the cycling community, The Pro’s Closet (TPC) will close its doors in October,” the company said in a LinkedIn post. “Since our founding, we’ve had the privilege of helping over 160,000 customers find their perfect ride and have sold more than 46,000 bikes. It’s been a hell of a ride, and we couldn’t be more thankful to the customers, employees, and vendors who made this journey possible.”

TPC’s website was advertising a going-out-of-business sale on Wednesday. 

The company, which capitalized on the pandemic-era outdoor-sports boom to boost sales, has raised more than $90 million in a number of fundraising rounds over the years, media reports show, including $5.5 million as recently as this January. 

The Pro’s Closet, which was founded in Boulder, did not provide a reason for its closure on the LinkedIn post nor on a blog post on its website titled “So Long, and Thanks for the Ride.” TPC representatives did not immediately respond to requests for comment Wednesday afternoon.

“This has been an extraordinary chapter in the world of cycling, and we’re incredibly grateful to everyone who has been a part of it,” TPC CEO Jonathan Czaja said in the LinkedIn post. “From our dedicated team to the loyal riders and industry partners, your support allowed us to grow and create a lasting impact. While this is the end of the road for TPC, as it operates today, we are proud of what we’ve accomplished together.”

TPC was founded in 2006 by Nick Martin, who began by selling unwanted bike gear on eBay. Now, it sells through its own website and markets itself as the world’s largest retailer of used bikes. The Pro’s Closet in 2020 moved its headquarters from 2845 29th St., Suite C, in Boulder to 1900 Taylor Ave. in Louisville, which was formerly the North American headquarters for the outdoor brand Fenix, whose subsidiaries include Fjallraven.

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