BionX GmbH to cease European operations and liquidate

By Steve Frothingham

HAAR, Germany (BRAIN) — The last of BionX Canada’s operating subsidiaries, BionX GmbH, has announced it will close its offices near Munich on Dec. 10 after more than 10 years in business there and an unsuccessful effort to find a buyer. The Canadian e-bike conversion kit supplier entered into receivership in late February and all business activity at its factory and offices in Aurora, Ontario, was suspended as advisory firm Grant Thornton reviewed assets and began searching for a prospective buyer.

In June, three companies, Amego Electric Vehicles, Crescent Commercial and NumberCo, purchased some of BionX Canada’s assets including tooling, machinery, inventory and other equipment by way of a bidding process. According to court documents, Amego also purchased intellectual property including software, patents and trademarks, but efforts to sell subsidiary companies BionX America, Inc., BionX Europe GmbH, which was incorporated in Austria, and BionX GmbH, were unsuccessful.

In a press release, BionX GmbH said Amego had indicated previously that there would be no cooperation with BionX GmbH, and that operations there could not continue. Sales will cease Dec. 10 and BionX GmbH will begin liquidation. The company will complete all ongoing transactions and process warranty claims through the first quarter of …read more

Via:: Bicycle Retailer and Industry News