The Pro's Closet goes out of business

[Dewey]

BRAIN report the used bike retailer Pro's Closet is going out of business. As of now there are some remaining ebikes on sale. Private equity strikes again!

 

[Ravi Kempaiah]

This is not just for Fuell or Pro's closet, a major OEM - SIMPLON in the EU has declared bankruptcy

A bang! Bike manufacturer Simplon goes bankrupt

The Vorarlberg bike manufacturer Simplon has recently been struggling with severe economic challenges - now the company has filed for insolvency. The ...

www.krone.at

I have heard that one of the largest OEMs, Accell, has had to deal with a financial situation.

Accell Group achieves agreement to cut €600 million debt

Accell Group made significant positive strides forward today to improve its financial position and reduce its corporate debt

cyclingindustry.news

The situation is very hard on companies that had to deal with market saturation, overstock, and cooling financial markets.

 

[VelocityBike]

Hopefully, the industry can adapt and recover, but it looks like we're in for a bumpy ride in the near future.