ONOMOTION Insolvency: E-Cargo Bike Manufacturer Seeks Investor and Continues Business Operations

After the opening of insolvency proceedings at the Berlin cargo bike manufacturer ONOMOTION, the company announced through the insolvency administrator that it would continue business operations without restrictions. Recently, the Charlottenburg District Court opened preliminary insolvency proceedings over the assets of the e-cargo bike specialist. Ms. Ulrike Hoge-Peters from the law firm Hoge Gutsche Walter PG was appointed as the preliminary insolvency administrator.

"I have found a highly motivated and specialized team that supports the ongoing restructuring process. Our common goal is to secure business operations. The discussions with a strategic investor, already initiated by management, have been seamlessly continued," explained Hoge-Peters.

Beres Seelbach, managing director of ONOMOTION, commented on the background of the insolvency application, stating that sales had fallen short of expectations, also due to weak demand in Germany.

"Together with strategic partners, we are currently working on the further development of our product in order to establish ONO as a permanent player in the e-cargobike market in the long term once the restructuring process is completed," Seelbach continued.