Business

December is usually a strong month for children’s bicycle sales in the UK, but this wasn’t enough to overturn the deficit. – Photo Halfords

Halfords bicycle sales well below pre-pandemic levels

REDDITCH, England - Halfords has reported a 5.1% dip in its Q3 cycling sales compared to the same period last year. More concerning is that the UK...

Scott Sports Group is lucky enough to have a strong parent company to provide additional financial resources now the supply chain bottleneck has become problematic. – Photo Jo Beckendorff

Scott Sports next to get multi-million loan from owner

SEOUL, South Korea - Scott Sports owner Youngone Corporation has granted its subsidiary a temporary financial injection of SFR 150 million (€160.6...

The insolvency plan of the European distributor of Breezer, Fuji and SE Bikes, Advanced Sports GmbH has been approved. – Photo Jo Beckendorff

Advanced Sports' insolvency plan unanimously approved by creditors

MUTLANGEN, Germany - A difficult market situation including slow consumer spending made Advanced Sports GmbH decide on 1 April last year to apply for...

Looking positively to the future again: KSR Group CEOs Michael (left) and Christian Kirschenhofer. – Photo KSR

KSR Group successfully completes financial restructuring

GEDERSDORF, Austria - Two-wheel mobility product supplier, KSR Group, has successfully developed a restructuring plan since applying for a chapter 11...

Bird is one of the largest micromobility operators in North America and also has shared e-bikes and e-scooters in several European cities. – Photo Bird

Shared mobility provider Bird enters voluntary Chapter 11 in US

MIAMI, USA - Known primarily for its shared e-scooter service across cities globally, Bird has announced that it is restructuring to "strengthen its...

The much-discussed inventory level in the industry led to aggressive discounting campaigns. – Photo Accell Group

Fitch Ratings warns Accell Group finances are 'unsustainable'

HEERENVEEN, the Netherlands - The reorganisations announced at three of its subsidiaries was already a clear indication of a new policy at Accell...

In September the Canyon operation was even loss making at €-2 million versus a profit of €29 million year-on-year. – Photo Canyon

Canyon early discounting strategy drives down its profit

KOBLENZ, Germany - The large-scale media campaigns offering major discounts on various bike categories this summer by Canyon was regarded rather...

The latest interim report of the VanMoof administrators published last week shows there won’t be much left for the creditors. – Photo VanMoof

Not much left money for creditors after mega-losses of VanMoof

AMSTERDAM, the Netherlands - An interim report by the VanMoof administrators paints a clear picture of the financial drama which took place this...

The helmet manufacturer BSA which has been working for Uvex Group for almost 30 years will close by the end of 2024. – Photo Uvex Group

Uvex Group to close its German bicycle helmet production

OBERNZELL, Germany - Cycling and sports gear manufacturer Uvex Group announced the closure of one of its European production locations in a strategic...

In 2021 WeSports acquired Cykelkraft.se a leading online bike retailer in Sweden. – Photo WeSports

WeSports Scandinavia acquires stake in Thevea Brands Group

STOCKHOLM, Sweden - Swedish cycling and sports equipment group WeSports Scandinavia AB has acquired a stake in compatriot Thevea Brands Group AB. The...