"Pedego issued a recall on several hundred fat tire electric trikes after multiple reports of frame breakage. Pacific Cycle also released a safety notice regarding slipping child-seat buckles. At Rad Power Bikes, Kathi Lentzch has stepped down after taking over as CEO in March. Former CFO Angelina Smith is now stepping into the role to guide the company through its Chapter 11 process."
"The company's Chief Financial Officer, Angelina "Angy" Smith has, for the moment, been raised to the role of CEO. She joined the company in April after previously holding CFO positions at the travel company TrovaTrip and Athena Consumer Acquisition Corporation. This move comes after Rad Power Bikes' recent Chapter 11 bankruptcy filing. The company is currently downsizing its administrative team as it works through the bankruptcy process."
E-bike industry saw multiple safety alerts and bankruptcy developments during the holiday period. Pedego recalled several hundred fat-tire electric trikes after multiple reports of frame breakage. Pacific Cycle issued a safety notice about slipping child-seat buckles. Rad Power Bikes experienced an executive transition as Kathi Lentzch stepped down and former CFO Angelina "Angy" Smith assumed interim CEO responsibilities while the company proceeds through Chapter 11 and administrative downsizing. Electric Bike Company remains in Chapter 7 and its remaining assets are scheduled for auction in February. Potential outcomes include purchase by an outside investor or new funding sources to allow brands to remain open into January and beyond.
Read at Electric Bike Reviews, News, & Testing
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