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Another bike brand files for bankruptcy, but claims it’s not the end of the road

Another bike brand files for bankruptcy, but claims it’s not the end of the road

The team behind NS Bikes, Rondo and Creme is doing damage control after news broke that the Polish company 7ANNA has filed for bankruptcy. In a public statement, founder Szymon Kobyliński emphasized that this move isn’t a shutdown, but a legal action taken to protect creditors and give the company a chance to restructure.

“Such a petition does not constitute the termination of operations or the abandonment of our brands,” the company wrote. “We’re still operating, servicing our bikes, supporting you, our customers, and paying attention to every detail.”

The bankruptcy filing comes after a series of crushing blows over the past two years. First, their largest client in Western Europe went under, creating a massive shortfall in sales. Then, issues with a bank delayed funding for their partners, which in turn pushed bike deliveries past peak season.

Next, a key supplier called Sprick, filed for bankruptcy, once again halting the flow of top-end bikes. Not long after, hackers rerouted a major payment to a fake account in Portugal. And just weeks later, their largest client refused to pay for a newly delivered order and canceled all future business.

It all added up to a brutal storm that 7ANNA couldn’t weather alone.


Still building bikes and chasing new investment

Despite the bankruptcy filing, 7ANNA says they are still releasing new models daily and servicing existing customers. They’re actively pursuing new investment and say conversations are ongoing.

“If those talks are successful, then the entire company can continue its journey. We’ll even shift into fifth gear,” the statement said.

For now, operations continue. Warranties are still being honoured. Retail partners remain in place. And 7ANNA insists that they remain committed to the community that helped grow their brands into globally recognized names.

“Thank you for being with us. Together we can get through this difficult time and come back stronger.”

 

Click Here to Read the Full Original Article at Canadian Cycling Magazine…