Ibex Outdoor Clothing, which plans to close its doors in February, might be revived under the leadership of Terry Bicycles CEO Liz Robert. She confirmed Thursday that Vermont Works, a private equity firm of which she is a director, is exploring a bid on the Vermont-based apparel brand.
Robert says she sees potential in Ibex, which has a strong, loyal customer base and a good product. There’s synergy between Terry Bicycles and Ibex that she hopes to be able to leverage to keep the brand—and its jobs—within the state of Vermont. Robert formerly ran Vermont Teddy Bear Co. and purchased Terry Bicycles in 2009, moving it from Rochester, New York.
“People thought I was kind of crazy to do that,” she said Thursday. “People talk about the high cost of doing business in Vermont. But I’m a big believer that we need to try to support economic development in the state. I have a particular passion for Vermont, and a particular passion for keeping jobs in Vermont.”