WSF Bicycle Technology GmbH, a company that specializes in manufacturing bicycles for both established brands and newcomers looking to launch their own series, has filed for reorganization proceedings without self-administration at the Wels regional court. The company, founded in 2020 and located in Regau, Upper Austria, produces bicycles for national and international brands. They recently expanded their business to include e-bikes, e-scooters, and new mobility vehicles. However, due to a sharp decline in market volume at the end of 2023, the company faced financial challenges that led to a significant decrease in production and a drop in sales.
To address these challenges, the company implemented cost-saving measures and reduced its workforce from 49 to 15 employees. Despite the difficult situation, the company is exploring opportunities to continue operations and is in talks with potential investors. A restructuring plan has been proposed to creditors, offering a 20% payment within 2 years. The insolvency administrator is evaluating the possibility of continuing operations without further losses to creditors.
WSF Bicycle Technology GmbH’s assets are about 173,000 euros while liabilities amount to around 2.373 million euros. The company prides itself on maintaining maximum quality throughout the value chain by providing flexibility in production processes and conducting assembly and painting in Europe. Their goal is to meet customer needs quickly while staying ahead of market demands to provide a competitive edge.