Estonian electric bicycle maker Ampler Bikes files for bankruptcy
Estonian e-bike manufacturer Ampler Bikes OÜ has filed for bankruptcy with Harju District Court, prompted by an unresolved legal dispute related to the lease agreement for its Berlin showroom.
The parent company's move followed the insolvency filing of its German subsidiary, while the Swiss unit is expected to face the same fate in the coming days, Delfi reports. Although the court has not yet officially declared bankruptcy, the company's management considers it inevitable.
In a notice to investors, Ampler board member Kristjan Maruste said the main trigger behind the bankruptcy filing was a 10-year lease agreement for the company's Berlin showroom signed in 2021, which proved too ambitious for Ampler and impossible to exit.
Ampler spent 18 months trying to renegotiate the lease terms or give up the premises, but the landlord demanded a €1.2 million penalty to terminate the agreement. The claim made it impossible to attract new investment, leading major shareholder Urban Mobility to withdraw further financing.
As part of the bankruptcy proceedings, all Ampler employees will be laid off. Most recently, the company employed a total of 50 people.
Maruste added a note to Ampler bike users, saying that the use of standard components means most maintenance and repair work can be carried out by regular bicycle shops across Europe.
The management board will propose that the bankruptcy trustee sell the company's assets as a whole in order to find a partner that would continue operating the brand.
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Editor: Mirjam Mäekivi, Marcus Turovski
