MEPPEL, The Netherlands - The full extent of the problems in the Dutch e-bike market are becoming increasingly clear with the next insolvency of pure player Amslod founded in 2015. Like Stella E-bike, Amslod started as an online retailer which later opened shops to provide better service, but never became as successful as Stella E-bikes.
HEERENVEEN, The Netherlands - As the market continues to be challenging, liquidity will remain a key focus of the Accell Group, according to a business update of the company published yesterday. With accounts for 2023 finalised with a 10% revenue drop, "recovery is well on track across the business," states CEO Tjeerd Jegen.
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.
ALISO VIEJO, USA - The reorganisation of the Pon owned brand GT Bicycles has resulted in much speculation regarding the future of the brand. Some even assumed that GT Bicycles would shut down once all inventory is sold. According to a Pon spokesperson, the decision to restructure this subsidiary was taken, "to lay a solid foundation for its next chapter."
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.
WALDERSDORF, Germany - Cube Bikes plans to set up a facility in Egypt to produce plastic-reinforced carbon parts for export to its European factories as production inputs. The company has already scheduled a second visit to Egypt to secure a 40,000-square-meter plot in the 10th of Ramadan City, northeast of Cairo.
NUNSPEET, The Netherlands - The future of a former market leader for e-bikes in the Netherlands, Stella, has been secured. Dutch investment company Scheybeeck and chain store owner Ilias Salhi have announced a relaunch of the recently bankrupt e-bike manufacturer albeit in a downsized form.
JAKOBSTAD, Finland - European component manufacturer, Herrmans Bike Components continues to expand its sustainable product portfolio. The latest addition sees three of its existing chainguard models transition to using 100% recycled ABS plastic.
