Cowboy Has Reached an Agreement on short-term finance, which Provisionally Secures The Survival of the Belgian E-Bike Company. Like VanMoof, Cowboy Has Been Struggling with Problems for some time.
Cowboy is also working on a deal with rebirth, The French Parent Company of Easybike and Lejeune, Among Others. This Agreement Should Ensure Long-term Financial Stability.
The E-Bike Company Has Been Facing Problems With the Delivery of New Bicycles and Bicycle Parts for Some Time. There was also a major recall due to unsafe frames. In Addition, The Manufacturer Has Gained a Major Competitor with the arrival of Fat Bikes.
With the agreement that cowboy concluded on Thursday, its survival is provisionally assured. Precise details will be shared in September, A Spokesperson Told Press Agency ANP .
Company Has Been Suffering Losses For Some Time
Cowboy was founded in 2017 and wanted to keep the entire design, production and distribution chain of electric bicycles in its own management. Until Now, the Company Has Suffered Losses Every Year.
Before the Corona Pandemic, Cowboy Sold Many Bicycles, But Demand Then Fell. In May of this year, the brand also had to recall all copies of the cruiser st worue the frame could break in half.
In 2023, cowboy released an app for the now bankrupt vanmoof. This Allowed People with A VanMoof to Store Their Digital Bicycle Key. Should the servers of the electric vanmoofs go offline as a results of bankruptcy, users could lock their bicycle.
Several e-bike brands have gone bankrupt in recent years, including vanmoof and qwic. Both e-bike companies have made a restart. Stella also Filed for Bankruptcy.