But lo and behold, Toni and Paul Liddiard purchased the bike store last week and will keep everything the same except the name.

The bike shop is now called Outback Cycles. Ms Liddiard said she bought her bike from the store and heard that Joe Dilegge was selling the shop.

"My husband Paul has previously owned several businesses so we had a chat and things really just fell into place," she said.

Ms Liddiard said she hoped for a busy Christmas.

"We are getting all brand new stock for Christmas and are hoping there are lots of bikes on children's wish lists," she said.

Mr Liddiard said they were keeping all the same suppliers and brands while staying in touch with all the bike clubs.

"We are also looking at doing bike safety workshops for school kids, in due course," he said.

Former owner Joe Dilegge said he was excited the business was continuing after all the effort his family put in over the years.

"A lot of people were disappointed to hear we were shutting down but now everyone is relieved the shop is making a comeback," Mr Dilegge said.

"I think this bike shop is something that is needed in Mount Isa."

Mr Dilegge said it's the end of an era for his family.

"My dad owned the bike shop for 18 years and then I took over for another three years but now it's time to move on," he said.

Outback Cycles also does repairs, second hand bikes, tools and accessories.

READ ALSO: New Chinese massage parlour is open for business

While you are here subscribe to our weekly email newsletter delivered to your inbox at 6am every Friday.