The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture For Transport Equipment Manufacture Of Other Transport Equipment 30.92 - Manufacture Of Bicycles And Invalid Carriages
150 jobs Number of planned job losses
Announcement Date
19 October 2023
Employment effect (start)
19 October 2023
Foreseen end date
Description
Bike Fun International, the largest Czech bicycle manufacturer based in Kopřivnice, has announced the redundancy of 150 out of its 550 employees.
The background of the internal restructuring plan is a drop in orders. The layoffs particularly affect bicycle manufacturing mechanics. The decline in production occurred due to the overall state of the bicycle industry. During the COVID-19 pandemic, the interest in cycling increased strongly, leading to a sales boom and bike manufacturers increasing their orders. This boom has now worn off, and bike manufacturers are left with full warehouses.
Bike Fun International's bicycles and products are exported to more than 28 countries worldwide. Its largest markets include the Netherlands, the Czech Republic, and France.
Eurofound (2023), Bike Fun International, Internal restructuring in Czechia, factsheet number 200399, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200399.
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