QUEBEC, Canada - Long standing bicycle manufacturer Rocky Mountain Bicycles has filed for Chapter 11 status to restructure the company. The company will continue its operations in full during its self-initiated restructuring process under the Companies' Creditors Arrangement Act (CCAA), reports the Canadian new service Cision's Newswire.
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.
AMSTERDAM, the Netherlands - The import statistics of the European Union clearly indicate that China regained its leading position as e-bike supplier for Europe's market. At the same time, the market is drowned with cheap and non-compliant China made e-bikes whose sellers shamelessly advertise the presence of a throttle and how to circumvent the maximum support of 25 km/h. How should the industry respond to these market developments?
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."
BRUSSELS, Belgium - Folding bike specialist Ahooga has welcomed Tomi Viiala, former CEO of Stromer, as an advisor to the Board. Known for his instrumental role in transforming Stromer into the global leader in speed pedelecs, Viiala will support Ahooga in advising on driving strategic growth across Europe.
VIENNA, Austria - After a three-month restructuring process a new investor has secured the successful restart of Austrian custom-bike builder, Simplon. SOL Capital Management GmbH announced an undisclosed capital injection by one of its funds securing the future of the bike manufacturer.
DIJON, France - The news came out already earlier, but was only published officially today. Accell Group's brand Cycles Lapierre is making a return to the to the UCI World Tour as the official bike sponsor for Team Picnic PostNL. The team will compete on Lapierre bicycles for the next four years.
PARIS, France - The budget crisis in France which led to a lot of political turmoil recently has a big impact on the bicycle and e-bike industry as well. With no previous warning, the Government announced that all state subsidies for the purchase of bicycles and e-bikes will be eliminated on very short notice. The 'Alliance for Cycling' warns of a significant consequence of such a decision for the whole cycling industry.
BERLIN, Germany - Due to a sales slump and the resulting financial bottleneck Berlin-based (cargo-) LEV manufacturer Onomotion GmbH had to file for insolvency on 26 September. A subsidiary of a corporate group already backing other bike manufacturers, Emoving GmBH, has added the last mile delivery solution provider to its portfolio.
BRUSSELS, Belgium - A setback has occurred for Cycling Industries Europe during the process of leadership change after the candidate to succeed Kevin Mayne as CEO of Cycling Industries Europe withdrew. The organisation was informed on short notice that he will not take up the post due to a family issue.
EINDHOVEN, the Netherlands - Adaptable tyre pressure technology firm Gravaa has ap-pointed John Zopfi as its new chief commercial officer. With more than 20 years of experi-ence in outdoor and cycling industries, Zopfi took up the role earlier this month after spend-ing the past six years at 7mesh Industries where he most recently served as general manager for global wholesale.
NUNSPEET, The Netherlands - The future of a former market leader for e-bikes in the Netherlands, Stella, has been secured. Dutch investment company Scheybeeck and chain store owner Ilias Salhi have announced a relaunch of the recently bankrupt e-bike manufacturer albeit in a downsized form.
