The cycle hire industry has been one of complete upheaval in recent months. From councils ditching programs to providers entering administration, is appears the service tipped to revise our transport industry is going south.
Just this week we hear the news that Reading’s bike hire scheme, ReadyBike, is coming to halt.
The bike rental company has apparently “struggled to cover the costs of operating the scheme” with “current factors” having “significantly impacted” the business.
While having been offering bike hire deals in the town since 2014, ReadyBike is struggling to maintain momentum in Reading, failing to sign sponsorship deals to fund the day-to-day running of the business. Initially funded by the Government, it has now been reported that Reading Borough Council has been spending close to £10,000 a month to keep the business running.
No longer viable for the Council’s residents or tourists, the scheme has no option but to end. However, it is not all doom and gloom for the people of Reading, with the Council this week announcing that it was in talks with another bike rental provider that is willing to take over from ReadyBike.
Tim Caswell, from Hourbike Limited, the company that manages the bikes, said:
“It is with some sadness that Hourbike has had to give notice from operating ReadyBike.”
Bike hire will stop being offered as of March 31st with all of the vehicles to be held in storage.
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