Jan-Willem van Schaik

HEERENVEEN, the Netherlands - The uncertain pace of the reorganization to restore its profit (EBITDA), the excess inventories in the market and weak consumer demand, and a deep-discount environment made Fitch Ratings decide to downgrade Accell Group from CCC to CCC-. According to the credit rating agency, "the weak operating performance, tight liquidity and negative free cash flow results in unsustainable credit metrics."

BERINGEN, Belgium - As a very well-known performance brand, Ridley Bikes has been visible in all top level road race competitions for the past two decades. Owner Belgian Cycling Factory, who also holds the labels Eddy Merckx and Corsa, is now building an international European organisation to capitalise on its successful business model.

FRANKFURT, Germany - A total of 43 innovative products and projects in the bike and future mobility sector will be honoured during the Eurobike Award ceremony on 3 July. Another 12 will receive a special distinction. Around 300 submissions from 35 countries were assessed in a multi-stage selection process in 9 categories according to criteria such as design, level of innovation, manufacturing quality and value for money.

BREDA, the Netherlands - VDL Groep's announcement to open the next bicycle frame factory in Europe last year, was more than welcomed by the industry. Frame manufacturing is the key element for bicycle production close to the market and for a long time regarded as one of the most complex parts of a bicycle to manufacturer in Europe on a large scale.

FRANKFURT, Germany - Three successful editions of the 'Eurobike investors lounge' prompted organizer Kindermann Value Creation to launch a wider and more in-depth program for this year. The presentations are primarily geared towards the interests of the guests, who are mainly made up of representatives from leading private equity funds and family offices.

ZEIST, the Netherlands - Retail sales between January and March 2024 in the Netherlands partly recovered from the strong decline the market experienced in 2023. Turnover increased year-on-year by 5.2% in the first three months of 2024. In the same period last year, revenue was still down by 10% mainly as a result of the sales hike in 2022 shows the benchmark of H&L Accountancy and Tax.

SUZHOU, China - The official accreditation of the Bafang Laboratory Center by the China National Accreditation Service for Conformity Assessment (CNAS) confirmed the successful creation of world-class professional testing laboratory for two-wheel drive systems. The component manufacturer is investing substantially to expand its market position. "The industry needs to regain confidence to restart the market again," Bafang President and CEO Qinghua Wang told Bike Europe on a recent visit.

FRANKFURT, Germany - Sharing know-how and best practices have become an important part of Eurobike. The annual industry get-together has become a global presentation of every aspect the bicycle and e-bike business has to offer. From 3-7 July 2024, industry experts will gather in Frankfurt for the flagship trade fair for bicycle and light electric mobility.

STRATFORD-UPON-AVON, UK - Pashley Group Limited has announced the appointment of experienced and proven business leader Andy Smallwood to the role of chief executive officer (CEO), effective 3rd June 2024.

COLOGNE, Germany - The decline in bicycle and e-bike sales Germany experienced in 2023 was a one-off writes the Cologne based Institute for Retail Research IFH in their annual market study. According to IFH, the demand will increase moderately again in the future starting in 2024.