The bicycle industry is being shaken up, and now the German company YT Industries GmbH has had to initiate restructuring proceedings. Company founder Markus Flossmann emphasizes that normal operations will continue as usual - and that the future of the bicycle manufacturer is secure, in front of the camera in the YouTube clip. 

YT CEO Flossmann gives the reasons: Despite strong global demand and a loyal customer base, YT has suffered greatly in recent months from the ongoing price pressure and discount orgies in the bicycle industry. Various problems with suppliers as well as uncertainties in the US market in connection with customs regulations further impaired the course of business; YT sells around half of its bikes in North America. As no further financial resources were available within the existing structure, according to Flossmann, a reorientation via restructuring proceedings under self-administration was unavoidable.

Restructuring proceedings under self-administration differ from insolvency: the company retains control and operations continue, with the aim of riding the company into the future instead of liquidating it.

yt-industries.com