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Mercian seems like the main comparator. When I bought my BJ back in 2004 I also looked at them. At the time they were more expensive so I went with BJ, which were an amazing bargain (same price as a surly...)
Just looked at the Mercian website and their frames are in the £1500-2000 range for lugged 725 made in the UK. And similarly old school designs. So this new BJ seems very in line with that. Given Brother has just released a new canti frame it seems like there is a market for bikes that don't follow the disc brake modern vibe.
Wish them all the best with the new venture. Not easy to get something I've this going and I'm glad the BJ name is getting another lease of life.
I think it's partly that and partly because even now, they're only going to sell a few lugged bikes to older enthusiasts who care about the heritage. When you can buy a (half) 853 fairlight with disc brakes for the same price, they won't be attracting many new customers other than those who already own several bikes.
Change with the times or be left behind and all that