The company, WSF Bicycle Technology GmbH, based in Regau, Upper Austria, is facing financial challenges that led to a significant decrease in production and sales. Founded in 2020 and specializing in manufacturing bicycles for both established brands and newcomers, the company prides itself on maintaining maximum quality throughout the value chain. They offer a comprehensive service package that covers every step of the manufacturing process, from design to delivery. However, due to a sharp decline in market volume at the end of 2023, the company has been exploring opportunities to continue operations and is in talks with potential investors.
WSF Bicycle Technology GmbH has filed for reorganization proceedings without self-administration at the Wels regional court. The company’s assets amount to about 173,000 euros while liabilities amount to around 2.373 million euros. 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 considering continuing operations and proposing a restructuring plan that offers a 20% payment within two years to creditors. The insolvency administrator is evaluating the possibility of continuing operations without further losses to creditors.
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