HARD, Austria - Modular bike builder Simplon Fahrrad GmbH has successfully completed its restructuring process under self-administration. With the support of the previously announced new owner SOL Capital Management, Austria's second-largest bicycle manufacturer is now starting the upcoming cycling season in a stronger position.
GÜTERSLOH, Germany - Another well-known traditional company in the German bicycle industry is facing financial difficulties that can't be solved by themselves anymore. Both Sprick Cycle GmbH and its parent company Sprick Holding GmbH filed for provisional insolvency on 27 December, according to an announcement of the insolvency court.
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."
DHAKA, Bangladesh - Known as a manufacturer of textiles, garments, lingerie and chemicals, Panam Group diversified into the production of bicycles a year ago. The company is keen to expand into newer sectors and found bicycle production and its exports a potential area thanks to the favourable duty structure for Bangladesh-based bicycle exporters to the European Union (EU).
HAUSHAM, Germany -American cult brand Yeti has announced the opening of a European office in Germany. "Expanding into Europe is the next logical step for us as we have seen a lot of growth over the last decade," says Yeti CEO Chris Conroy. Founded in 1985, Yeti Cycles makes race-bred, obsessively engineered, masterfully crafted mountain bikes.
TAICHUNG, Taiwan - Despite a double-digit revenue drop Taiwan's third-largest bicycle manufacturer Ideal Bike Corporation is continuing to work on getting a grip on the losses incurred in the past. A look at the 2024 second quarter and first half-year figures indicate a successful restructuring of the financial setbacks.
