A “20% off sitewide” banner at the top of a company’s website should usually be a source of joy for customers. Unless you're a fan of this company's products, its executives remain silent amid increasing signs that the company may be on the brink of bankruptcy.
That's what's happening with Juiced Bikes, the San Diego-based e-bike manufacturer.
According to numerous customer reports, Juiced Bikes has stopped responding to customer inquiries at all for some time now, while all of its products are sold out on its website. There are also numerous testimonies of layoffs in the company.
Even more worrying signs are mounting: The company's assets, including its existing product inventory, are showing up for sale on an auction website used by companies going out of business.
Additionally, a lawsuit has been filed in New York against parent company Juiced Inc. and Juiced Bike founder Tora Harris, according to Trellis, a state court legal research platform.
Founded in 2009 by Harris, a U.S. high jump Olympian, Juiced Bikes was one of the first pioneers of direct-to-consumer e-bike brands in the U.S. market.
The company's e-bikes have developed a loyal fan base over the years. Last year Digital Trends named the Juiced Bikes Scorpion
The company has so far remained silent about all of the reports. However, if bankruptcy is confirmed, it could rightly be attributed to the post-pandemic whiplash that the e-bike industry has experienced in recent years.
The Covid-19 pandemic had led to a huge increase in demand for e-bikes, while at the same time supply chains were severely restricted. This led to a ramp-up in e-bike production to meet high demand. But as consumer demand fell after the pandemic, e-bike manufacturers were left with large surpluses of inventory.
The good news is that the downturn may soon be over as the industry is experiencing a wave of mergers and acquisitions, says a report by Houlihan Lokey.
That may mean that even if Juiced Bikes does go under, the brand and its products could find a buyer and resurface on roads and trails.
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