In a rare move, the world’s largest manufacturer of the Horizon treadmill has announced that it is going to be shutting down its business after two decades of operation.
The company was founded by Israeli entrepreneur Eliyahu Zvi Ben-David in 1992 and is one of the most profitable treadmill makers in the world.
The business has made headlines around the world, with the treadmill attracting millions of visitors to the country’s desert landscapes, which are inhospitable to hikers.
A petition demanding that the company be shuttered garnered over 8 million signatures, but Ben-Descartes insisted the business had never been profitable and was in dire need of a rethink.
The Horizon treadmill is a product that is made by the Israeli company Horizon, which Ben-Davies claims is the only company in the country that makes a stationary bicycle-based treadmill.
Horizon says that its product has been adopted by more than 2 million people, with its sales increasing every year.
However, it has never been able to sell its treadmill in the United States and has never managed to secure a U.S. patent for its product.
Its current owners are now facing a legal battle with Ben-Desartes, who is seeking to seize his business for $1.2 billion.
Ben-Descarts latest move comes after the company announced plans to close all of its stores and close its offices across the United Sates, with all employees also being laid off.
The move comes as Ben-DESARTES was set to launch a new business, a personal trainer, to replace the company’s stationary bicycle product.
The company says that it plans to open stores and offices in New York and Washington DC this year, but that it will eventually shut down in 2020.
The Huffington Post contacted Horizon for comment but has not received a response at this time.