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.

ARHUS, Denmark - Promovec Group A/S, supplier of e-bikes and drive systems, has acquired the remaining 25% of battery manufacturer Viridus Manufacturing A/S. This acquisition marks the end of the joint venture partnership with Chinese company Greenway.

LONDON, UK - When looking for an indication of how dire the current market situation is in the bike industry, look no further than the recent financial results of folding bike manufacturer, Brompton. The renowned British manufacturer has reported a dramatic decline in profits, plummeting from £10.7 million (€ 12.9 million) to just £4,602 (€ 5,543) for the fiscal year ending March 2024.

TERNDRUP, Denmark - As part of its continued growth investments, Danish online bike retailer Cykelgear, has merged with fellow Danish e-commerce business, Cykelpartner. Although the agreement unites the two online platforms under the same corporate group, both will continue to operate as independent brands in Denmark. The financial details of the deal have not been disclosed.

MEPPEL, The Netherlands - The full extent of the problems in the Dutch e-bike market are becoming increasingly clear with the next insolvency of pure player Amslod founded in 2015. Like Stella E-bike, Amslod started as an online retailer which later opened shops to provide better service, but never became as successful as Stella E-bikes.

HEERENVEEN, The Netherlands - As the market continues to be challenging, liquidity will remain a key focus of the Accell Group, according to a business update of the company published yesterday. With accounts for 2023 finalised with a 10% revenue drop, "recovery is well on track across the business," states CEO Tjeerd Jegen.