BionX Canada Ceases Operation, Europe Continues
HAAR, Germany – Late February, e-bike drivetrain producer BionX Canada Inc. had to file for bankruptcy in Canada. On June 15 the bankruptcy sale of part of BionX Canada was approved by court while the remaining business activities were closed.
Meanwhile, the operation of the European subsidiary Bionx GmbH should continue as usual. This year’s Bionx presence together with its e-bike brand Elby at Eurobike is still planned. Shortly after BionX Canada announced its bankruptcy in February, the company’s European subsidiaries publicly announced that BionX Europe GmbH (based in Weiz/Austria), BionX GmbH and Elby Bike Europe GmbH (both based in Salmdorf/Haar near Munich) were continuing their business.
Last week BionX stated that “neither the North American Elby Bike Co. nor the European Elby Bike Europe GmbH were affected by the Bionx-Canada bankruptcy. Sales and service continues as usual.” However, the ongoing changes now also resulted in the closure of the Austrian-based organization BionX Europe GmbH. All activities on the European market have been taken over by BionX GmbH and Elby Bike Europe GmbH.
According to BionX GmbH, “the insolvency administrator working on the BionX Canada unsuccessfully searched for a buyer so he decided to sell only parts of the company. Three independent (and unspecified) companies were selected from a group of potential buyers. Their offers resulted in the highest amount of money raised in favour of the creditors.”
Production Canada closed
The bankruptcy sale also resulted in the closure of BionX Canada’s headquarters including the production facility in Aurora, Ontario. Important parts such as the BionX Canada’s subsidiaries, licenses, production and distribution rights as well as software are still for sale. Thus, the current sale is only a partial sale.
As the facility in Aurora, Canada has been closed, the European operation of BionX is currently working under pressure to relocate the production of the e-bike kit and especially the motor. “This would secure the continuation of the company in Europe. The delivery of batteries has already been transferred to Europe successfully. Spare parts deliveries and warranty claims can be guaranteed with only a few restrictions”, is noted in a press release of the new European headquarters of BionX GmbH.
The company also announced that the BionX Service Centre and the known contact persons are available as usual. At the planned Eurobike (booth A1-303), the BionX team is available to give “detailed information on the current situation.”