BURLEY Bikes Changes Hands, Lays Off Workforce

One hundred four employees at Burley Design learned on Friday that the company had been sold to local businessman Michael Coughlin. Under the new ownership, they were being laid off until further notice pending revision of the companies new plan for restructuring.

Sixty-five will return to their jobs today, while 39 positions will be eliminated.

Coughlin did discuss his plan to refocus Burley on bicycle trailers and move away from tandems, recumbents and road bikes. He said that the financially troubled company can be profitable again by March with modifications to the old format.

Burley converted in June to a privately held corporation after twenty eight years as a worker-owned co-op. Former members of the co-op were issued stock certificates, though it's not yet clear how much the shares are worth.