WSF Bicycle Technology GmbH, a company based in Regau, Upper Austria, has undergone a significant reduction in its workforce from 49 employees to 15 employees. The company specializes in manufacturing bicycles for established brands as well as newcomers looking to launch their first series. Their services cover the entire manufacturing process, ensuring quality checks and flexibility in production processes. Despite their high-quality products that meet market requirements efficiently, the company faced financial difficulties due to a decline in market volume and customer orders.
As a result of these difficulties, WSF Bicycle Technology GmbH filed for reorganization proceedings at the Wels regional court. The company attributes its insolvency to delays in parts deliveries and a sharp drop in customer demand. Despite higher prices, they were unable to maintain their sales volume. The liabilities of the company amount to approximately 2.373 million euros, while their assets are around 173,000 euros.
In an effort to continue operations, cost-saving measures have been implemented, including the reduction of employees and restructuring plans. The company is optimistic about a market recovery and the potential for new orders from existing and new customers. Discussions with potential investors are underway, and a restructuring plan offering creditors 20% of their claims has been proposed.
The insolvency administrator will assess the feasibility of continuing operations without further losses for creditors. WSF Bicycle Technology GmbH remains hopeful that ongoing operational activities will support the company’s future. They are committed to delivering quality bicycles and meeting market demands efficiently to ensure their competitive advantage in the industry.
WSF Bicycle Technology GmbH faces financial difficulties due to declining market volume and customer orders despite delivering high-quality products that meet market requirements efficiently.
Due to these difficulties, WSF Bicycle Technology GmbH filed for reorganization proceedings at the Wels regional court.
The company attributes its insolvency to delays in parts deliveries and a sharp drop in customer demand.
To continue operations cost-saving measures have been implemented including reducing employees and implementing restructuring plans.
Despite higher prices they were unable to maintain their sales volume.
Discussions with potential investors are underway while a restructuring plan offering creditors 20% of their claims has been proposed.
The insolvency administrator will assess whether continuing operations without further losses is feasible for creditors.
WSF Bicycle Technology GmbH remains hopeful that ongoing operational activities will support their future while committed to delivering quality bicycles meeting market demands efficiently ensuring competitive advantage in industry.
