2Rad Produktions GmbH, the manufacturing arm of Austrian bicycle brand Simplon (formerly Simplon Fahrrad GmbH), has filed for restructuring proceedings without self-administration at the Feldkirch Regional Court in Austria. The company has approximately €33.4 million in liabilities, with the proceedings affecting 54 employees and around 150 creditors.
According to data from Austrian creditor protection association KSV1870, €28.3 million of the current liabilities stems from claims originating from the previous restructuring. These claims became due again after the previous restructuring plan failed, including roughly €26 million owed to a single major creditor and approximately €2.3 million owed to other creditors.
Simplon first entered restructuring proceedings in September 2024 as Simplon Fahrrad GmbH, with liabilities of around €44.5 million. Creditors approved a restructuring plan in December 2024, after which Austrian investment firm SOL Capital Management acquired the company. The restructuring was subsequently completed under self-administration.
In its latest court filing, 2Rad attributed its liquidity problems to incomplete inventory and missing components inherited during the transfer of the business from the previous insolvency. The missing parts prevented existing orders from being completed and delivered promptly, resulting in delivery delays, a partial decline in follow-up orders, and increased liquidity pressure.
Unlike the 2024 proceedings, the current application seeks restructuring without self-administration. The proposed plan offers creditors a 20% quota payable over two years, with the company intending to maintain operations at its production facility in Hard, Vorarlberg.
2Rad Produktions GmbH operates as the manufacturing entity within the Simplon group and is fully owned by Simplon Bike GmbH (formerly Simplon Holding GmbH). Simplon Bike GmbH itself is not subject to these proceedings.
