Dessau / Roßlau, Germany – As MIFA continues its long-running solvency struggles, fellow German bike manufacturer, Euro-Bike has now also applied for insolvency.

A press release states that Euro-bike, which was founded in 1994 and assembles bicycles for brands such as Schindelhauer, Rothwild, Coboc and Nikolai, was hit by an economic downturn as one of its main contractors surprisingly cancelled a long-term assembly contract in order to carry out the assembly itself in-house.

On July 7, Euro-Bike Produktionsgesellschaft mbH filed for insolvency at the District Court of Dessau / Roßlau, which appointed Rechtsanwalt Dr. Christian Heintze of the insolvency administration bank BBL Bernsau Brockdorff to act as a provisional insolvency administrator.

▲ Based in Herbst, Germany Euro-Bike, assembles bicycles for brands including Nikolai and Rothwild. (Photo: www.euro-bike.de) 

Heintze and his team have been on site at the plant headquarters in Zerbst since July 7 and are currently providing an overview of the company's economic situation. The business operation continues unreservedly. As one of the first measures, Heintze secured the wage extension for the current 32 employees. The temporary insolvency administrators and management are currently holding talks with new clients and potential investors.