The website also says go visit the new bike shop in the same location, so who knows. The lease expired and the owners couldn't negotiate a new one at a rent they liked? They decided it was time to retire and sell what they could (although in that case, you'd think the old website would give us more information than just "the new bike shop")? Something else?

In any event, it appears that someone thinks that in today's market, a bike shop in that location can do well, whatever the reason for Goride Bicycles closing.