News
BEIJING (BRAIN) — Ofo, the world's largest and best known dockless bike share operator, is struggling financially, in part due to demands for deposit refunds from customers in markets where Ofo has stopped operating.
VASHON, Wash. (BRAIN) — Charles "Chuck" Ivan Wurster, Jr., whose products helped create the current indoor cycling boom, has died at age 86 at his home here.
DURHAM, N.C. (BRAIN) — A U.S. bankruptcy judge has approved Advanced Sports Enterprises' motion to cancel its licensing and manufacturing contracts with Ideal Bike Corporation, a Taiwan-based manufacturer that has been a backer and manufacturer for ASE and its ASI division.
GREENVILLE, S.C. (BRAIN) — After eight years catering to women cyclists, Pedal Chic owner Robin Bylenga will close her brick-and-mortar store in downtown Greenville on Dec. 30 and will shift her focus to online.
WASHINGTON (BRAIN) — PeopleForBikes and the Bicycle Product Suppliers Association have submitted requests on the industry's behalf for exemption from the 25 percent tariff on Chinese-made e-bikes that took effect last summer. The deadline was Thursday for submitting the requests to the U.S. Trade Representative.
HELSINKI (BRAIN) — The investor group acquiring Amer Sports has begun to buy up the company's outstanding and issued shares through a voluntary recommended public cash tender.
KENT, Wash. (BRAIN) — The CEO of Accell North America says he is feeling "very good" about where the business is and he's expecting a lot of improvement in 2019.
WASHINGTON (BRAIN) — TerraTrike is working with the U.S. Consumer Product Safety Commission to recall about 450 Rambler Electrical Vehicle Option ( E.V.O.) recumbent trikes with an electric-assist wheel because the torque sensor in the hub motor can activate unexpectedly and cause the trike to power forward, posing crash and injury hazards.
MADISON, Wis. — Almost three decades after acquiring Graber Products and renaming it Saris, co-founder Chris Fortune is stepping down as president and handing the reins to COO Jeff Frehner. Fortune becomes Saris’ CEO effective Jan. 1, 2019.
STOCKHOLM (BRAIN) — Thule Group announced this week that it has acquired car rooftop tent maker Tepui Outdoors Inc. for $9.5 million.
DURHAM, N.C. (BRAIN) — Advanced Sports Enterprises wants to end its licensing agreement with Specialized for the Roubaix trademark. The bankrupt company also is asking the court for permission to abandon inventory worth about a third of a million dollars wholesale, currently held by a broker.
LONDON (BRAIN) — U.K. online retailer Chain Reaction Cycles has announced on its website that it will stop selling Shimano products into North America on Jan. 1.
LONG BEACH, Calif. (BRAIN) — The online cycling platform Zwift has secured a $120 million Series B investment. The company, which started with a gaming-style virtual riding experience, has expanded into a running game and non-gaming indoor training options.
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