WELS, Austria - For quite some time the sparrows have been whistling it from the rooftop: on April 29, Pierer Mobility AG confirmed it will withdraw completely from the bicycle and e-bike business in the current 2025 financial year. Pierer Mobility is seriously struggling with the insolvency of its motorcycle subsidiary KTM AG.
SCHWEINFURT, Germany - Following a brief take-over by Austria's Pierer New Mobility, R Raymon Bicycles will now continue its journey as a 100% independently owned company under the guidance of founders Susanne and Felix Puello. Since 6 March a new chapter begins for the German bike brand. The financial details of the deal have not been disclosed by either party.
MATTIGHOFEN, Austria - The financial struggle at the motorcycle division of Pierer Mobility AG could not take place without having an impact on the e-bike department. The company has now announced that its regional activities in South Africa, Germany and the UK will gradually be wound down in a controlled manner.
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.
WELS, Austria - Pierer Mobility AG, the owner of bicycle and e-bike brands Husqvarna, GasGas and Felt has announced that it will apply for debtor-in-possession restructuring proceedings for its motorcycle subsidiary KTM AG on Friday. KTM AG's financing requirements are "currently in the high three-digit million euro range."
WELS, Austria - The macro-economic conditions made two-wheeler giant Pierer Mobility AG already revise its forecast for the current financial year in October. Moreover they communicated a far-reaching restructuring program of its bicycle and e-bike sector. It now turns out that the liquidity requirement for its motorized two-wheeler business has a much bigger impact on the financial stability of the whole company.
