New owners of Walton Street Cycles (From The Oxford Times)

New owners of Walton Street Cycles

4:02pm Thursday 29th July 2010

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A ‘GEM’ of an Oxford cycle shop has been bought by a young couple in a deal sparked by an article in The Oxford Times.

John Wilson died in June at 52 after running Walton Street Cycles for 25 years. The shop was taken over by five local residents, who have now sold a majority share to Kevin Moreland, 29, and his partner Honour Tomkinson, 30, after seeing them featured in In Business magazine.

They already run Bainton Bikes, nearby in Bainton Road, which they set up last autumn.

Mr Moreland said: “We have no intention of changing the tradition. I used to go to Walton Street Cycles as a child, asking questions, and I was a customer for years.

“It really encapsulates what an independent bike shop should be.

“It was a big shock when they approached me, but it's a fantastic opportunity.”

The five former owners — Russel Matthews, Martin Wilkinson, Andrew Wilkinson, Paul Brankin and Ben Piper — bought the shop when it was in danger of closing because Mr Wilson could not find a buyer as his health deteriorated.

Having put the business on an even keel, they started looking for an owner-manager.

Mr Matthews said: “We saw the article in In Business and we went round to see Kevin and Honour.”

He added: “All five of us are keeping a financial stake in the business. We love what it stands for. It's quirky, it's different, it's like an Aladdin's cave.

“We take time to talk to customers and find out what they want. It's very much a community enterprise. We don't compete with the Halfords and Cycle Kings of this world.

“It's one of those small old shops like Gill’s and Sylvesters, Smith and Lowe — those little gems of Oxford that you lose if you don't take care of them.”

Mr Moreland, who was helping to run Bainton Bikes in his spare time from home, has now given in his notice from his IT job.

He and Ms Tomkinson have built it into a major hire and repair centre by using the Internet as a marketing tool.

They are both mad about bikes, and started by doing repairs for friends, then lending out bikes they had restored for fun.

He said: “We will run the two businesses as separate brands, with Honour at Bainton Bikes.

“It will allow us to expand Bainton Bikes a lot more quickly.”

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