It’s unfortunate to see such an influential company in the e-bike industry come to an end...
And they are not alone, nor limited to the ebike side of things alone. Just this week Scottish MTB/Cycling wear company ENDURA are laying off most of its Scottish workforce and relocating to the London HQ of its parent company after huge loses last 2 years, it's basically being folded into other outwear companies of the owners (JD sports), losing it's unique Scottish identity in the process if it survives at all.
Rapha, the high end road clothing company is shutting many premises world wide. Canyon just reported they have suffered enormous loses, putting future in doubt though still surviving so far, that was a huge industry shock. Fox announced it has suffered 43% losses, likewise Merida taking an enormous $105m hit last year, UK long standing MTB brand Orange had to be rescued, Canadian Rocky Mountain MTB brand in a similar position, YT and Kona both companies bought back by original owners to save them. Van Moof bust and now restructuring, Cowboy, who helped many Van Moof owners left high and dry, now in big trouble themselves, likely bankrupt. GT bankrupt, now restructuring of some kind. So many household or longstanding names gone or changed completely. Even Shimano has downgraded for 2026.
The list goes on and on. Are people not buying bikes anymore? Or did the world buy too many during the covid boom and there are just too many bikes out there? Probably that plus with a cost of living crises, bikes are not high priority but considered leisure industry. Ironic in that after the 1929 crash people turned back to bikes to get around as cars were too expensive. Now bikes are mostly viewed as high end luxuries and cars essential to living.