YT Industries, the German direct-to-consumer mountain bike brand, has laid off most of its 150 staff members in Germany as founder Markus Flossmann reportedly aims to buy the company back following its entry into self-administration this summer. A creditor's committee has approved his offer, and contracts are being finalised, according to German outlet MTB-News. Meanwhile, YT's founder has assured that the company's US subsidiary continues operating normally.
The developments have come only two months after YT told customers that a restructuring would not affect day-to-day operations while it sought new investors. As Escape Collective reported at the time, Flossmann attributed the need for the restructuring to post-pandemic whiplash, including supply issues and uncertain demand in the United States. In early August, YT apologised for the issues this caused to customers, and said refunds had begun within the legal framework, promising that no customer would be left out of pocket. Days later, it launched a new Decoy Core 4 e-mountain bike.
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