Cowboy secures financing after “most challenging period in our history”
eBike-focused Cowboy has revealed significant steps to secure its future after it endured the most “most challenging period in our history”. It now hopes to restore normal operations by year end.
The Belgium-headquartered business has now secured short-term financing to maintain operations and production, and has signed a term sheet with a new financial partner, REBIRTH GROUP HOLDING SA, with the support of its current investors and debt provider, to ensure its long-term future.
The firm said the agreements “mark a turning point” after the turbulent stretch. Over the past two years, Cowboy, like much of the bike industry, has faced unprecedented headwinds. Post-Covid demand shifts, supply chain breakdowns, and a sector-wide recalibration have significantly impacted the industry.
Heaping further complication on top of the challenges, Cowboy initiated its first-ever recall, triggered by an unapproved change from a supplier affecting a subset of Cruiser ST bikes, so said the brand: “The issue was serious, and we acted quickly, but it added strain to an already complex situation.”
“As a result, some customers experienced delays in deliveries, spare parts and communication. We recognise how frustrating this has been, and we sincerely apologise.”
Cowboy said that it had held back from commenting until it had tangible progress to report which it now has:
● First replacement frames have arrived from its supplier.
● Cowboy’s first recall hub is operational, with more cities to follow this summer.
● Operations and production will gradually return to normal thanks to new short-term funding.
● A signed term sheet with a new financial partner sets the path for long-term stability.
Cowboy said the priority is to restore normal operations before year-end, working closely with its new partner. This means delivering outstanding bikes, resolving open cases and regaining the level of service its customers expect, the firm said.
“Despite the challenges we are here, stronger and committed to moving forward. We will share more details in September as they become available.”
