Differences

This shows you the differences between two versions of the page.

--- transportation:rad [2024/08/16 05:42] – [Articles] timb
+++ transportation:rad [2025/12/18 02:10] (current) – [Bankruptcy 2025] timb
@@ Line 304: / Line 304: @@
 ===== Company =====
+== Rad Power Bikes CEO steps down ==
+Sean O'Kane - 1:39 PM PDT March 10, 2025
+Rad Power Bikes CEO Phil Molyneux has stepped down as part of a wider strategic reshuffling at the acclaimed electric bicycle company. The company told TechCrunch that Chief Financial Officer Stephanie Roberts will serve as interim CEO while the company searches for a replacement, and that Molyneux will serve as an adviser.
+The news, first reported by Electrek, comes a few months after it went through its fifth round of layoffs in under four years. Molyneux took over the CEO role in 2022 after previous CEO Mike Radenbaugh stepped down. The shakeup comes at a time when many of the most visible e-bike brands have struggled, with two — Cake and VanMoof — recently going through bankruptcy restructurings.
+Rad Power itself is in the middle of a “strategic pivot to support a more significant focus on physical retail, which required downsizing our teams involved in the direct-to-consumer business,” the company said in a statement. “While it is always challenging to make these decisions, we are approaching this transition with empathy and unwavering support for our talented team members and are confident that this pivot will better support our riders and the advancement of our mission going forward.”
+https://techcrunch.com/2025/03/10/rad-power-bikes-ceo-steps-down/
+==== Bankruptcy 2025 ====
+== Rad Power Bikes faces shutdown in January without new funding ==
+Sean O'Kane & Kirsten Korosec - 1:14 PM PST November 10, 2025
+Rad Power Bikes has informed its employees that it will shut down in January if it is unable to find new funding or get acquired, according to an internal staff email viewed by TechCrunch.
+The company’s leadership is “still fighting to find ways to continue,” and “the cessation of Rad’s operations is not a forgone conclusion,” according to the email, which was sent by Rad Power’s “people team.” Rad Power employees were told there had been a “very promising” option to keep the company alive that “appeared to be likely to close,” but the deal — which was not specified in the email — “did not come to fruition.”
+“Rad is nothing without its people and wants to ensure that all employees are taken care of and provided for to the fullest extent feasible. Executive leaders are hopeful that a viable solution will be found to ensure that Rad team members remain gainfully employed for the foreseeable future. However, to be fully transparent, despite our collective efforts, it is possible that this may not happen, and Rad may be forced to cease operations,” the email reads. GeekWire was first to report the contents of the email.
+Seattle-based Rad Power has gone through multiple rounds of layoffs over the last few years coming out of the pandemic. While the early pandemic days were a boon to micromobility companies like Rad Power, a “sudden drop in consumer demand” left the company saddled with excess inventory, according to the email viewed by TechCrunch. “Rad continues to face significant financial challenges, including in the form of tariffs and the macroeconomic landscape.”
+https://techcrunch.com/2025/11/10/rad-power-bikes-faces-shutdown-in-january-without-new-funding/
+== Rad Power Bikes files for bankruptcy and is looking to sell the business ==
+Sean O'Kane - 9:28 AM PST December 17, 2025
+Electric bike company Rad Power Bikes filed for Chapter 11 bankruptcy protection on Monday, weeks after it warned employees that it could shut down without new funding.
+The company will continue to operate while the bankruptcy case proceeds, and it’s looking to sell the business within 45-60 days, a spokesperson told TechCrunch.
+“This step allows us to keep operating in the ordinary course of business while we pursue the best possible outcome for the people who rely on Rad every day,” they said in a statement. “Our goal is to keep the company intact and preserve the relationships we have built with riders, vendors, suppliers, and partners.”
+Rad Power is the latest in a series of e-bike companies from around the world to go through bankruptcy after pandemic-era excitement for the category wore off. Some of those companies have re-emerged, though, with VanMoof and Cake finding new owners during their respective court-led restructuring processes.
+Rad itself had told employees in November that there had been a “very promising” option to keep the company afloat that was “likely to close,” but the deal fell apart. The company has not shared more details about that potential deal.
+https://techcrunch.com/2025/12/17/rad-power-bikes-files-for-bankruptcy-and-is-looking-to-sell-the-business/
+== Rad Power Bikes files for bankruptcy and is looking to sell the business ==
+Sean O'Kane - Wed, December 17, 2025 at 9:28 AM PST
+Electric bike company Rad Power Bikes filed for Chapter 11 bankruptcy protection on Monday, weeks after it warned employees that it could shut down without new funding.
+The company will continue to operate while the bankruptcy case proceeds, and it’s looking to sell the business within 45-60 days, a spokesperson told TechCrunch.
+“This step allows us to keep operating in the ordinary course of business while we pursue the best possible outcome for the people who rely on Rad every day,” they said in a statement. “Our goal is to keep the company intact and preserve the relationships we have built with riders, vendors, suppliers, and partners.”
+Rad Power is the latest in a series of e-bike companies from around the world to go through bankruptcy after pandemic-era excitement for the category wore off. Some of those companies have re-emerged, though, with VanMoof and Cake finding new owners during their respective court-led restructuring processes.
+https://finance.yahoo.com/news/rad-power-bikes-files-bankruptcy-172850412.html
 ==== Layoff 2024 ====