FOR IMMEDIATE RELEASE
March 19, 2026
I'm going to keep this simple because you deserve that.
The last few years have been the hardest this industry has ever seen, and Knolly has not been immune. But we have been fighting through it: restructuring costs, tightening operations, and doing the difficult work of right-sizing the business to match a new reality. We were making progress.
That progress was cut short. Our bank, RBC, has made the decision to call in our account. This comes at a time when RBC is posting record annual profits- $20.4 billion last fiscal year. RBC has been consolidating aggressively, and small businesses like ours are feeling the consequences. In an already concentrated Canadian banking landscape, the options for companies in our position are narrowing, not widening.
I'm not here to litigate our bank's priorities. But when a business is doing the hard work of recovery and its lender chooses to write down the account rather than work through it, while posting the most profitable year in Canadian banking history, the community that supports us deserves to know that.
I want to be direct about what this means and what it doesn't.
What it means: We are now in a position where we must evaluate all restructuring options to determine the best path forward. That process is underway. I expect to have more clarity within the coming weeks and will share it as soon as I have it.
What it doesn't mean: This is not an obituary. I started Knolly in a garage because I believed I could build a better bike. I still believe that. The question in front of me right now isn't whether Knolly should exist, it's what Knolly needs to look like to keep existing. We have been in active development and on the cusp of releasing several new models before these recent events occurred.
Our highest priorities right now are two things: taking care of our staff, and taking care of our active customers. Those are the people who have put their trust in us most directly, and they will be at the centre of every decision we make from here. At this time we are confident that we won't leave any customers hanging: we have already satisfied the vast majority of open orders and are actively resolving the few that remain.
To our dealers: you have been the backbone of this brand. I'm not going to make promises I can't keep today, but protecting those relationships is central to every conversation we're having.
To our riders: your bikes are not going anywhere. Knolly frames are built to outlast trends, that was always the point. I will keep you informed, honestly and without spin. That's the only way I know how to do this.
More to follow.
Noel Buckley
Founder & CEO, Knolly Bikes
Comments
You might take the high road and choose to not litigate the banks, but we all certainly can — I can guarantee that RBC won’t be getting any business from me or my family any time soon. My first “real” bike (ie. one that didn’t put my health and well-being at risk when the trail pointed down) was a used 2016 Warden, bought on consignment from Black’s Cycles. That led to a Fugitive 138, and I’m sure it will lead to another down the road (long before I need a newer, or better bike, because both the Warden and Fugitive are more capable than I am). Best of luck to the Knolly family in getting past this, growing bigger and stronger!
Noel and team,
I have been riding Knolly for over a decade. Podium, OG Chilcotin, new Chilcotin, two Fugitives, and now a Tyaughton.
My son was in diapers playing with the pedals on my first Knolly sitting in our living room. Now he is racing Enduro on a large Fugitive.
Somewhere along the way these bikes stopped being just something I ride and became part of our cycling story. Race weekends, long trail days, progression, and time together.
I have seen a lot of bikes come and go. There is still nothing that rides like a Knolly. You can feel the intention, the durability, and the ride quality in a way that is hard to explain but easy to trust. Whatever the future holds, I wish you the very best, and hope you know the impact you’ve had throughout the community. Cheers, fam.
-Josh
Hi Noel,
Very sad to hear this….
I came to Knolly through Tomahawk Bikes in Oka, Canada and i was oh so glad to be a part of your company and ride the Fugitive. It was a perfect match at first ride. I heard a lot of good things about Knolly bikes and I’m so amazed to be riding one. It is tattooed on my chest now. You deserve to know this! Hold on whatever the future brings many of us will follow. I cringe saying this but what doesn’t kill you makes you stronger. Much respect to you and your crew!
Oh man, I am so sorry to hear this. It has been some time since I’ve seen you out on the Burnaby Mountain trails. I am living in Nanaimo now, I have two Wardens, an aluminum one and the older carbon, I ride one or the other almost every day, the bikes are as perfect and magnificent as can be. I still get lots of comments on the bikes when I bump into other riders. I’ve also had a few Endorphins and a Chilcotin as well… I was hoping to get some bearing and bushing service kits but this does not look possible right now. I hope things work out, I wish you all the best. Banks are savages, it is all for profit and bonuses/shareholders. I guess if anyone has a Royal Bank account they could switch banks (I always use credit unions) and let the bank know why… but it would make no difference. Stay strong and I really hope you get through this, Knolly lives forever!
Our company, unrelated to the bicycle business, was handed the same fate by RBC. We were a successful and profitable business for them for 20 years., and all of a sudden they decided to cut our operating line. This all happened soon after the Trump tariffs. , and RBC and the suits on King Street decided that any distribution companies that were also dealing in the US were a high risk and to clamp down. We managed to transition to TD and they have been very welcoming and supportive… a much different attitude. So that may be an option to approach TD. Happy to pass on a name if you wish.. Your
industry, and business in general is tough enough these past years… but to have these fat cat Banks, who make billions on the backs of consumers and small businesses is a real slap in the face. RBC made over $20billion in profit last year , and it is not enough.
All the best on the future of your company.
Hi Noel, sad to hear.. Keep fighting, I love your products and also your style to connect with customers… Hope Knolly will be around for some more years
The Cache is the best bike I’ve ever ridden. I’ll continue supporting as long as that’s an option.
Thanks for caring about your customers and making great bikes. You will always have my support. Hope things turn out for the best.
keep up the fight! you guys build solid bikes for passionate riders and we appreciate that. Best of luck and I’m praying for you!
Thank you kindly for the honest update, Noel – very much appreciated, although I’m sure it’s not the news you wanted to share. I’m a very fortunate and proud owner of a Cache Steel and Fugitive 138, and am ever thankful for the thought and quality built into both of those incredible bikes, and the excellent service I’ve received from your team along the way. I hope that this setback is simply a bump in the road for Knolly, and that you will find a way through. Wishing the best of luck for you and the entire Knolly team!