Rad Power Bikes has alerted employees that the company could shut down as early as January 2026 if it can’t land fresh funding or complete a sale, according to an internal memo viewed by reporters. Management stressed that a wind-down isn’t inevitable and said they’re pursuing options to continue operating, but also acknowledged a near-completed rescue deal recently collapsed. TechCrunch
The e-bike brand—once a pandemic standout—has been cutting costs for years as the market cooled. In the memo, Rad cited a sharp post-Covid demand drop that left it with too much product, along with tariff headwinds and tough macro conditions. Separately, Rad filed a Worker Adjustment and Retraining Notification with Washington state, covering 64 employees at its Seattle headquarters; the filing is precautionary and reflects the only office large enough to trigger the notice requirement, not a targeted layoff. TechCrunch+1
Despite the crunch, Rad says it remains focused on supporting staff and serving existing riders while it searches for capital or a buyer. The company has also undergone leadership changes this year, bringing in turnaround executive Kathi Lentzsch as CEO amid escalating financial pressure. TechCrunch
Rad’s struggle mirrors a broader micromobility shakeout. Once-high-flying names—from Cake and VanMoof to Superpedestrian and Bird—have restructured or shut down as the sector contends with supply chain strain, financing challenges, and uneven consumer demand. TechCrunch
If no deal materializes, Rad told employees it may have to halt operations on January 9, 2026, or within 14 days thereafter, and that closures would likely be permanent across locations and departments. For now, the company says it is still selling bikes and working to find a path forward. TechCrunch+1
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