YT Industries announced that the company is entering into a “self-administrated legal restructure” after struggling to secure additional funding. The direct-to-consumer German mountain bike brand was founded by Markus Flossman in 2008 with a focus on providing hard-hitting, quality mountain bikes at affordable prices, for young riders in particular. Flossman provided an update on the company’s situation in a video posted to YouTube earlier today.
Filing for insolvency “allows us to restructure our finances, attract new investors, and ultimately set up the brand for long-term success,” he said.
YT’s post-COVID struggles were compounded by more recent problems
Like many brands, YT struggled to…