Jo Beckendorff

QUEBEC, Canada - Long standing bicycle manufacturer Rocky Mountain Bicycles has filed for Chapter 11 status to restructure the company. The company will continue its operations in full during its self-initiated restructuring process under the Companies' Creditors Arrangement Act (CCAA), reports the Canadian new service Cision's Newswire.

WELS, Austria - After motorcycle company KTM AG had to file an application for restructuring proceedings with self-administration at the end of November, its parent company Pierer Mobility AG commissioned Citigroup Global Markets Europe AG on 17 December to reorganise the ownership structure.

VIENNA, Austria - After a three-month restructuring process a new investor has secured the successful restart of Austrian custom-bike builder, Simplon. SOL Capital Management GmbH announced an undisclosed capital injection by one of its funds securing the future of the bike manufacturer.

BERLIN, Germany - Due to a sales slump and the resulting financial bottleneck Berlin-based (cargo-) LEV manufacturer Onomotion GmbH had to file for insolvency on 26 September. A subsidiary of a corporate group already backing other bike manufacturers, Emoving GmBH, has added the last mile delivery solution provider to its portfolio.

WELS, Austria - Pierer Mobility AG, the owner of bicycle and e-bike brands Husqvarna, GasGas and Felt has announced that it will apply for debtor-in-possession restructuring proceedings for its motorcycle subsidiary KTM AG on Friday. KTM AG's financing requirements are "currently in the high three-digit million euro range."

TAICHUNG, Taiwan - Even though the first three sales quarter revenue of NT$1.91 billion (€55.66 million) was 32.5% lower than in the same period of the previous year, Taiwan's bicycle manufacturer Ideal Bike Corporation has been able to reduce its loss by 34.4%. The crisis at Taiwan's third largest bicycle producer is still rooted in the 2023 insolvencies of two of its major customers Advanced Sports GmbH and VanMoof.

CHANGHUA, Taiwan - In the first three sales quarters of the current 2024 financial year Taiwan's second-largest bicycle manufacturer Merida Industry Co. Ltd. generated total revenue of TWD 23.8 billion (€695 million). Compared to the first nine months of the previous year, this is a good increase of 5.8% in a persistently difficult and challenging environment.

SCHAMBERG, Germany - High-precision transmission parts and components manufacturer hGears AG continues to suffer not only from the automotive crisis, but also from the e-bike business segment's sluggish destocking. In the first nine months of the current 2024 financial year, it had to digest its biggest sales drop.

DRESDEN, Germany - Online retailer Bike24 reports a year-on-year revenue increase of 2.9% to €62.89 million from July to September 2024. In this quarter the category fully assembled bicycles saw a 6% revenue growth to an all-time high of €13.4 million. According to Bike24, "this is the result of our choice for a large brand portfolio and attractive price points."

WELS, Austria - The macro-economic conditions made two-wheeler giant Pierer Mobility AG already revise its forecast for the current financial year in October. Moreover they communicated a far-reaching restructuring program of its bicycle and e-bike sector. It now turns out that the liquidity requirement for its motorized two-wheeler business has a much bigger impact on the financial stability of the whole company.