In news reminiscent of MIFA’s difficulties in January of this year, the German bicycle manufacturer Euro-Bike has applied for insolvency. Euro-Bike is known for manufacturing brands like Schindelhauer, Rothwild, Coboc and Nikolai among others.
The manufacturer remains positive about the future of the company.
“We see good opportunities for a reorganization and continuation of the company and the business operation will continue as usual,” says Dr Christian Heintze in a statement. The District Court Dessau/Roßlau appointed Dr Christian Heintze of the insolvency administration office bank BBL Bernsau Brockdorff as provisional insolvency administrator.
“Euro-Bike was hit by a downturn as one of its main contractors surprisingly cancelled a long-term assembly contract in order to carry out the assembly itself in-house. In addition, there is a challenging market environment: volume wise the production of regular bicycles has been declining for years while the e-bike has been increasing.”
“My goal is to rehabilitate the company and support a continuation,” Heintze explains. “Euro-Bike enjoys a very good reputation and carries out assembly orders for a variety of bicycle manufacturers throughout Germany. Together with the management we are currently holding talks with new clients and potential investors.”