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Kynast Sends Staff Home

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QUAKENBRCK, Germany – After a restart in 2005, Kynast Bike GmbH is again in trouble. According to todays report in the local newspaper Neue Osnabruecker Zeitung the complete staff of the bike maker has been sent home. Kynasts problems are

QUAKENBRÜCK, Germany – After a restart in 2005, Kynast Bike GmbH is again in trouble. According to today’s report in the local newspaper ‘Neue Osnabrücker Zeitung’ the complete staff of the bike maker has been sent home. Kynasts’ problems are financial.

A shortage in liquidity forced the management to stop production as there was no money to pay for components. The actual breaking point for Kynast is a second request for a debt guarantee from the State of Niedersachsen. This request is still under discussion, the newspaper says.

Employees say that Kynast was already late with the March and April salary payments. According to the newspaper report, Kynast has no lack of orders. Kynast is said to be in negotiations about a possible take-over by a third party.

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