Ghost Bikes has become the latest established manufacturer to fall victim to a cycling industry downturn that has claimed businesses across the United States and Europe since 2023. The German mountain bike brand is shutting down after failing to secure a buyer, adding its name to a growing list of companies that have faced bankruptcy, liquidation, suspended operations, or emergency restructuring. For American riders, the crisis extends well beyond Europe: Colorado-based Niner has been put on hold, GT has stopped developing new bikes, and manufacturers including Revel, Rad Power Bikes, and Rocky Mountain have needed new ownership to survive.
Some manufacturers have disappeared, while others have…