Bicycling

2842 readers

10 users here now

A community for those who enjoy bicycling for any reason— utility, recreation, sport, or whatever!

Post your questions, experiences, knowledge, pictures, news, links, and (civil) rants.

Rules (to be added on an as-needed basis)

Comments and posts should be respectful and productive.
No ads or commercial spam, including linking to your own monetized content.
Linked content should be as unburdened by ads and trackers as possible.

Welcome!

founded 2 years ago

MODERATORS

wolfeh@lemmy.world

YT Industries Begins Restructuring Under Self-Administration (www.pinkbike.com)

submitted 2 weeks ago by hemko@lemmy.dbzer0.com to c/bicycling@lemmy.world

8 comments fedilink hide all child comments

YT Industries GmbH has initiated a legal restructuring process under German law, entering into self-administration to secure the company's future.

In a press release from YT Industries, the German-based brand said "despite strong global growth and a loyal customer base", it has been "severely impacted by the global discounting battle in the bike industry, problems with suppliers and uncertainty in the US market related to tariff policies." YT Industries said it was "compelled" to enter legal restructuring proceedings under self-administration as the company has "no further funding available under the current structure."

Markus Flossmann, founder and CEO of YT Industries, said it was "not an easy step for YT, but a necessary measure to actively shape the future of the brand." Flossmann added: "We are already in discussions with potential new partners and are confident that we'll be back on track soon."

Currently, YT Industries remains fully operational with business continuing as normal during the restructuring process. Customer service and warranty support continue to be available and new product launches are still on track to launch in the coming months.

For any further support, YT Industries said its customer support can still be reached through email and the North American entity of YT is unaffected.

you are viewing a single comment's thread
view the rest of the comments

[–] Successful_Try543@feddit.org 1 points 2 weeks ago* (last edited 2 weeks ago)

~~Yes, it's a criminal act (Straftat). Yet, someone needs to inform the state/police first. This is only not necessary for a so called Offizialdelikt, like e.g. murder. I don't know whether that's the case for economic crimes like this.~~

The Verbraucherzentrale may give advice for the financial part, i.e. how to get some of the money back and how to file the management for compensation.

Edit: In case of insolvence, the public persecutor always investigates for Insolvenzverschleppung and thus it's likely an Offizialdelikt regarding the criminal process. However to sue the management for compensation in a separate civil process, action is required by the ones that have lost their money.