In the world of the best electric bikes (e-bikes), Rad Power Bikes was one of the most dominant brands in the U.S. market. Times have changed, and now the company has been forced to file Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Eastern District of Washington.
Rad Power Bikes is looking to sell, but it could have a tough road finding a buyer with the debt it's carrying and the recent struggles it has faced. As of this writing, Bicycle Retailer says the company has assets of around $32.1 million and estimated liabilities at $72.8 million, a substantially negative net worth for another firm to purchase. Its inventory of e-bikes, spare parts, and accessories is listed at $14.2 million.
