A “20% off site wide” banner on top of a company’s website should normally be cause for glee among customers. Except if you’re a fan of that company’s products and its executives remain silent amid mounting signs that said company might be on the brink of bankruptcy.
That’s what’s happening for Juiced Bikes, the San Diego, California-based maker of e-bikes.
According to numerous customer reports, Juiced Bikes has completely stopped responding to customer inquiries for some time, while its website is out of stock on all products. There are also numerous testimonies of lay-offs at the company.
Even more worrying signs are also piling up: The company’s assets, including its existing inventory of products, is appearing as listed for sale on an auction website used by companies that go out of business.
In addition, a court case has been filed in New York against parent company Juiced Inc., and Juiced Bike founder Tora Harris, according to Trellis, a state trial court legal research platform.
Founded in 2009 by Harris, a US high-jump Olympian, Juiced Bikes was one of the early pioneers of the direct-to-consumer ebike brands in the U.S. market.
The company’s e-bikes developed a loyal fandom through the years. Last year, Tech Reader named the Juiced Bikes Scorpion X2 as the best moped-style e-bike for 2023, citing its versatility, rich feature set, and performance.
The company has so far stayed silent amid all the reports. But should its bankruptcy be confirmed, it could legitimately be attributed to the post-pandemic whiplash experienced by the e-bike industry over the past few years.
The Covid-19 pandemic had led to a huge spike in demand for e-bikes just as supply chains became heavily constrained. This led to a ramp-up of e-bike production to match the high demand. But when consumer demand dropped after the pandemic, e-bike makers were left with large stock surpluses.
The good news is that the downturn phase might soon be over just as the industry is experiencing a wave of mergers and acquisitions, according to a report by Houlihan Lokey.
This may mean that even if Juiced Bikes is indeed going under, the brand and its products might find a buyer and show up again on streets and trails.
