Atlas Cycle shuts Ghaziabad factory

After years of losses that were magnified during the coronavirus-induced lockdown, Atlas Cycles, one of the country’s oldest bike-maker, decided to shut down their Ghaziabad's Sahibabad factory.

Ghaziabad: Manufacturers of popular Atlas Cycles shut down their Ghaziabad's Sahibabad factory on June 4, impacting as many as 700 people.

According to the notice pasted at the factory gate, the company said that it had no funds to keep the operations afloat.

Workers have alleged that there was no prior information regarding the layoffs and shutdown.

Ironically, the notice was put up on Wednesday, June 3 which is celebrated across the world as International Bicycle Day.

According to sources, close to a thousand people used to work in the factory.

After years of losses that were magnified during the coronavirus-induced lockdown, Atlas Cycles decided to shut its operations.

The brand which began in 1950, had a plant set up in 1951. Atlas Cycles sent its first consignment to overseas in 1958.

By 1965, Atlas had emerged as India's largest cycle manufacturer.