"But this week it became official - Rad Power Bikes has filed for chapter 11 bankruptcy protection. The Seattle-based electric bicycle manufacturer Rad Power Bikes Inc. filed for Chapter 11 bankruptcy protection on December 15, 2025, in the Eastern District of Washington. The company, which operates as one of the OG direct-to-consumer retailers of electric bicycles and accessories, reported estimated assets of $32.1 million against liabilities totaling $72.8 million."
"According to the bankruptcy case ( Case No. 25-02183), Mike Radenbaugh holds the largest equity stake at 41.3%, while former CFO Angelina M. Smith is listed as the CEO. The filing includes a Chapter 11 reorganization plan due by April 14, 2026. The company's largest unsecured creditor is U.S. Customs and Border Protection, owed $8.36 million in tariffs. Other significant creditors include Bangkok Cycle Industrial Co., Ltd. ($5.35 million in trade debt) and Lisa Gore ($3.2 million in subrogation claims)."
"Legal representation is provided by Armand J. Kornfeld of Bush Kornfeld LLP. The company previously operated under the name RAD Power Bikes LLC and maintains its website at radpowerbikes.com during the restructuring proceedings. Not only that, but we can confirm that the brand is still sending out marketing emails as of this morning, likely to try and pare down inventory and drum up any remaining cash."
Rad Power Bikes Inc. filed for Chapter 11 bankruptcy protection on December 15, 2025, in the Eastern District of Washington, reporting estimated assets of $32.1 million and liabilities of $72.8 million. Court documents indicate no funds are expected to be available for unsecured creditors. Mike Radenbaugh holds a 41.3% equity stake while Angelina M. Smith is listed as CEO. A Chapter 11 reorganization plan is due by April 14, 2026. Major unsecured creditors include U.S. Customs and Border Protection ($8.36 million), Bangkok Cycle Industrial Co., Ltd. ($5.35 million), and Lisa Gore ($3.2 million). Legal counsel is Armand J. Kornfeld of Bush Kornfeld LLP. The company maintains radpowerbikes.com and continues sending marketing emails during restructuring.
Read at Bikerumor
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