Canadian maker of retrofittable electric bike drive systems BionX has gone into receivership. The European subsidiaries BionX GmbH and BionX Europe GmbH, as well as the sister company Elby Bike Europe GmbH are continuing their business.
An answering machine message with the Ontario, Canada business points to Grant Thornton Limited, a receivership specialist, which has now confirmed the sale of the business.
A buyer is sought to carry the business forwards, though a new entry to the company’s Wikipedia page suggests that some 80 employees were let go as of February 28th, 2018.
The firm’s product is produced in Canada and shipped to 15 countries around the globe, while a Munich service centre keeps international customers moving. That Munich service centre remains operational with spares and warranty claims accepted as usual.
BionX typically produces rear wheel motor units paired to an own-label battery attached elsewhere on the bike. In 2008 the business was acquired by Magna, a company that had partnered BionX motors with brands such as Trek and Kalkhoff to name a few.