Simplon applies for Chapter 11 status as restructuring procedures continue
HARD, Austria - Business has not always gone smoothly at Austria's second largest bicycle manufacturer, Simplon Fahrrad GmbH. How big these problems were, became public when the shareholders replaced the management at the end of 2023. This year's industry-wide double-digit sales drop left a real skid mark on Simplon's revenue, forcing them to apply for a Chapter 11 status this week to support the ongoing restructuring process.