Two weeks after the closure of YT Industries in the USA, the German direct-to-consumer mountain bike brand is back, having been relaunched under its original founder, Markus Flossmann.
The story of YT's demise can be traced back to mid-July, when it was first reported that the brand was entering a period of restructuring. At the time, founder and CEO of YT Markus Flossmann said the brand had suffered the "whiplash" effect of the COVID-19 bike boom and the following collapse of the markets.
As a result of failure to shift existing inventory or secure funding for investment in new products, the company entered voluntary restructuring, which was intended to reorganise its finances and attract new funding. However, this did not yield the anticipated results, leading to mass redundancies in September, when the overwhelming majority of employees were let go.
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