Bio-Hybrid files for insolvency and plans to restructure

The Schaeffler spin-off Bio-Hybrid GmbH has filed for self-insolvency at the Insolvency Court in Nuremberg and appointed restructuring expert Dr. Hubert Ampferl from the law firm Dr. Beck and Partner as the preliminary insolvency administrator. The business operations will continue seamlessly during the insolvency application process, assured the new mobility provider. The management and the appointed preliminary insolvency administrator intend to continue with the already initiated restructuring and successfully complete it by early July. Negotiations with potential investors are also being continued to complete the development of the Bio-Hybrid and bring the innovative cargo pedelec to market.

“In recent months, many national and international investors have signaled their interest in participating. Due to restrictions related to the coronavirus, final discussions have been delayed, which meant the future financing of the startup was no longer secured,” assured Gerald Vollnhals, Managing Director of Bio-Hybrid GmbH.

Interest in the Bio-Hybrid remains strong, reaffirmed the managing director. The team continues to work with full commitment and is confident that with a little more time, a good solution with a new structure for Bio-Hybrid GmbH can be found. The four-wheeled cargo pedelec, constructed according to automotive standards, is still available for order with a deposit of 490 euros. There is no risk for customers, as the deposited amount will be refunded if delivery does not take place.