On August 18, 7Anna Group—the parent company of NS Bikes, Rondo, Octane One, and Creme Cycles—filed for bankruptcy. The company encountered multiple simultaneous setbacks that coincided with loan repayment deadlines, including a major Western European distributor collapse that caused a large revenue shortfall, withheld bank funding that delayed product launches, the bankruptcy of supplier Sprick, theft via redirected transfer, and a major client failing to pay and canceling their contract. The group reports it has raised additional funding twice and continues investing resources daily. The company states it will continue servicing bikes, supporting customers, and operating as usual while seeking reorganization and recovery.
The collapse of a major Western European distributor left a massive hole in revenue. Withheld funding from their bank that meant missed launch dates and late releases of new product. Sprick, one of the brand's largest suppliers, went bankrupt. Hackers stole a large sum of money by redirecting a transfer to a fake account. Their largest client received a shipment of product but failed to pay-and then canceled their contract.
We assure you that we are doing everything in our power to ensure that our brands survive and continue to inspire. We believe that the capital we have built-as one of the few Polish brands recognized globally in its segment-will be appreciated. Thank you for being with us. Together we can get through this difficult time and come back stronger.
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