E-bike startup Sushi Bikes is insolvent
Munich-based e-bike startup Sushi Bikes has filed for insolvency. The store is currently closed, but the founder hopes to continue operations.
Sushi Bikes is insolvent – founder Andy Weinzierl hopes to be able to continue.
(Image: Sushi Bikes)
The e-bike startup Sushi Bikes, founded in 2019 by Andy Weinzierl with the backing of presenter Joko Winterscheidt (who is no longer a shareholder as of April 2024) and investments from Mymuesli bosses Max Wittrock and Philipp Kraiss, is bankrupt. The insolvency petition was filed on November 14th at the Munich District Court. The company, which focuses on affordable e-bikes manufactured in the EU, has not provided official reasons. CEO Andy Weinzierl expressed optimism on optimistic on LinkedIn: “We're reorganizing a bit, and then hopefully we'll continue.”
Webstore closed
As Gründerszene first reported, Sushi Bikes is exploring restructuring options. Purchases are no longer possible via the company's website, and all product pages are inaccessible. The website simply states, “We'll be back soon 👋 We are currently working on important changes and will be available again soon.” For complaints and returns, there is still a link at the bottom of the page, leading to a support page.
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Insolvency usually doesn't happen overnight. This is shown by the annual financial statements for 2024, published in October 2025, in which Sushi Mobility GmbH had an annual net loss of 2.7 million euros. The accumulated deficit as of December 31, 2024, also amounted to 7.5 million euros. According to the annual financial statements, total liabilities, including all provisions and other obligations, amount to 4.3 million euros.
The e-bike market is highly competitive
Like Vanmoof, Cowboy, and Canyon, Sushi has relied on a direct sales model from the outset. The manufacturer promises an affordable entry into the e-bike market. Technically, the manufacturer's models are reduced to the essentials and designed for urban traffic.
For better support and broader sales, Sushi has entered into partnerships with stationary bicycle dealers in recent years, such as Little John Bikes. Sushi also partnered with leasing companies; even Tchibo offered the e-bike models in the middle of this year. To raise additional capital, Sushi launched a crowdfunding campaign last year. However, all these efforts were not enough to escape the downward spiral.
Sushi is not the only bicycle manufacturer struggling with the tough market after the Corona boom. Brands like Möve or Sprick Cycle also had to file for insolvency this year. After the demand surge during the Corona phase, manufacturers are facing declining demand and shrinking margins.
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