WSF Bicycle Technology GmbH, a company based in Regau, Upper Austria that produces bicycles for national and international brands, has filed for reorganization proceedings without self-administration at the Wels regional court. Founded in 2020, the company has recently expanded its 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.
The company’s assets are about 173,000 euros, while liabilities amount to around 2.373 million euros. In an effort 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 specializes in manufacturing bicycles for both established brands and newcomers looking to launch their own series. They offer a comprehensive service package that covers every step of the manufacturing process, from design to delivery. The company prides itself on maintaining maximum quality throughout the value chain, providing flexibility in production processes, and conducting assembly and painting in Europe. The company’s goal is to meet customer needs quickly while staying ahead of market demands to provide a competitive edge.
