Amid ongoing revenue slides and restructuring efforts to counter losses, Canyon Bicycles GmbH has announced large-scale job cuts. The German bicycle brand will cut 320 of its 1,600 employees, equivalent to 20% of its workforce.
VICENZA, Italy - Amid growing media speculation about the company's future, Campagnolo clarified its strategy and reaffirmed its commitment to Italy in a reply to Bike Europe. The Vicenza-based industry icon, long considered one of the most technically sophisticated brands in the sector, released a detailed note outlining the pillars of its recently approved "Industrial Plan."
VICENZA, Italy - The ongoing crisis in the cycling industry may be hitting one of the sector's most iconic Italian brands: Campagnolo, the historic Vicenza-based company and a name synonymous with world cycling. Reports of significant redundancies announced by the company have been circulating across major national news outlets and local media, but nothing has been confirmed by Campagnolo.
KARLSTEIN am MAIN, Germany - A sudden disruption in its customer base and subsequent legal proceedings instantly resulted in a financial challenge for the well-known lithium-ion battery manufacturer BMZ Deutschland GmbH. The company's branch, BMZ Deutschland GmbH, was forced to file for insolvency under its own administration at the local court in Aschaffenburg on 24 October.
SWIEBODZIN, Poland - Sprick, a long-standing name in the German Bicycle sector, has entered a new chapter. After financial difficulties led to insolvency of the bicycle assembler at the start of this year, the company is now set to become part of multinational, Singapore-based DuTech Group.
WEIDEN, Germany - The e-bike market expansion in the past decade came with a wave of new brands and suppliers. One of them was German MSA, mainly known as a long-time Kymco importer in Germany and the Czech Republic. Challenges in the motorbike and e-bike market have resulted in a reorganisation of the company including the withdrawal from the e-bike and bicycle market.
