A dockless bike company has announced it will be withdrawing from two London boroughs later this year.

Urbo, one of two dockless bike companies operating in East London, announced it will no longer be providing shared bike services in Waltham Forest and Redbridge because the boroughs are “no longer suitable” to the company’s business model.

The company plans to withdraw services from July 4 this year onwards.

A spokesman for Urbo said: “We would like to thank all of you who have supported Urbo and we hope to be able to offer services within these areas again in the future.”

Greater London Assembly member for Redbridge, Keith Prince, championed the scheme. He has been contacted for comment.

Dockless bike company Ofo are still offering dockless bikes in Redbridge and are due to role out services in Waltham Forest later this year.

For further enquiries or refunds, contact support@myurbo.com.