内容来源：https://www.geekwire.com/2025/rad-power-bikes-files-for-bankruptcy-protection-as-seattle-e-bike-maker-pursues-potential-sale/

内容总结：

美国知名电动自行车品牌Rad Power Bikes近日正式向法院申请破产保护，同时启动公司出售程序，以期维持品牌运营。这家总部位于西雅图的企业在破产申请文件中披露，其负债总额已达7300万美元，远超3200万美元的资产规模。公司营收亦持续下滑，从2023年的1.298亿美元降至2024年的1.038亿美元，本财年迄今仅录得6330万美元。

此次危机早有预兆。今年11月初，公司已承认面临"重大财务挑战"；三周前，美国消费品安全委员会（CPSC）更对其多款车型发布安全警告，指出部分锂离子电池存在起火爆炸风险。尽管公司对监管结论表示异议，但召回压力进一步加剧了资金困境。

根据破产重组方案，Rad计划在未来45至60天内完成出售交易。公司声明强调，此举旨在维持日常运营，为骑手、供应商及合作伙伴争取最佳出路。目前创始人迈克·雷登博仍持有41%以上股权，掌握公司控制权。

值得关注的是，这家曾受疫情推动快速扩张的明星企业，在2021年估值一度高达16.5亿美元，成为西雅图地区备受瞩目的科技独角兽。如今却因关税债务、供应链欠款及诉讼赔偿等累计近840万美元的未担保债务陷入困境。公司已向华盛顿州就业安全部门提交通知，预示最早明年1月可能裁员64人。

现任CEO凯西·伦奇曾领导巴特尔连锁药店等传统零售企业，其能否在破产保护期内带领这个曾经辉煌的电动自行车品牌走出困境，业界正密切关注。

中文翻译：

电动自行车品牌Rad Power Bikes已申请第十一章破产保护，这家总部位于西雅图的公司表示正努力推进出售事宜，以期维持这个广受欢迎的电动自行车品牌的生存。

该公司于周一在斯波坎联邦法院提交的破产申请中披露，其总负债近7300万美元，超过3200万美元资产的两倍。文件还显示其总收入持续下滑——从2023年的1.298亿美元降至2024年的1.038亿美元，而今年迄今收入为6330万美元。

此次破产申请正值美国消费品安全委员会（CPSC）发布消费者警告三周之后。该机构因锂电池安全隐患，建议消费者停止使用这家西雅图公司的部分自行车产品。此前11月初曾有消息披露，这家曾经迅猛发展的初创企业因面临"重大财务挑战"正在为生存而战。

Rad公司发言人周二向GeekWire提供声明称，公司正经历充满挑战与变革的特殊时期。"为确保Rad品牌实现可持续发展，我们已申请第十一章破产保护，作为在未来45-60天内完成公司出售流程的环节，"声明中写道，"此举使我们能在维持正常业务运营的同时，为每日依赖Rad产品的用户争取最佳解决方案。"Rad表示其目标是保持公司完整运营，并维护与骑行者、供应商及合作伙伴建立的关系。

此前Rad已向华盛顿州就业保障部提交通知，称公司最早可能于明年1月关闭，届时将影响64个工作岗位。破产文件显示，公司目前仍主要由创始人迈克·拉登博控制，他持有超过41%的最大个人股份。机构投资者持有重要少数股权，包括与Cercano Management关联的投资机构VCVC V LLC（6.55%）以及Durable Capital Master Fund LP（5.79%）。联合创始人泰·柯林斯保留4.23%的股份。

公司最大的无担保债务包括欠美国海关与边境保护局的近840万美元关税，以及欠海外制造商的800余万美元。保险公司和个人因Rad自行车相关索赔未获偿付的金额约430万美元，另有两人各索赔100万美元损失赔偿（可能源于诉讼案件）。

Rad由拉登博和柯林斯于2007年构想创立，两人在北加州洪堡州立大学就读时相识，并共同制造了首辆电动自行车。在多年从事传统自行车电动化改装后，他们于2015年创立了这家直面消费者的品牌。疫情期间随着电动自行车需求激增，Rad迎来爆发式增长，2021年销售额和员工规模急剧扩张，并从投资者处募集超3亿美元资金。据PitchBook数据，该公司当年估值达16.5亿美元，成为当时西雅图地区少数"独角兽"初创企业之一。

Rad公司总部及旗舰零售店位于西雅图巴拉德社区西北52街。公司现任CEO为凯西·伦奇，她曾在2020年巴特尔药店出售给来德爱之前担任其CEO，还曾领导过Gump's和Elephant Pharmacy等企业，并在Enesco、Pottery Barn和World Market担任高管职务。伦奇于今年早些时候接替了领导Rad两年多的前索尼总裁菲利普·莫利纽。

美国消费品安全委员会在11月24日发布的产品安全警告中列出了多款Rad自行车及电池型号，敦促消费者立即移除并处置"可能意外起火爆炸，对消费者构成火灾隐患"的危险电池，并特别指出"当电池或线束接触水和杂物时风险更高"。Rad对此提出异议，当时声明称"坚决支持我们的电池产品以及作为电动自行车行业领导者的声誉，强烈反对CPSC将某些Rad电池描述为存在缺陷或不安全的定性"，并表示CPSC"全有或全无"的召回要求将产生巨额成本，迫使Rad立即停业且无法继续支持用户和员工。

周二Rad再次表态"绝不放弃"，并称"正全力以赴巩固Rad品牌的未来"。

英文来源：

Rad Power Bikes filed for Chapter 11 bankruptcy protection even as the Seattle-based company said it’s working toward a sale to keep the popular electric bike brand alive.
In a bankruptcy petition, filed Monday in federal court in Spokane, the company reported total liabilities of nearly $73 million, more than double its assets of $32 million. The filing also revealed a steady drop in gross revenue — from $129.8 million in 2023 to $103.8 million in 2024, and $63.3 million so far this year.
The filing comes three weeks after the Consumer Product Safety Commission (CPSC) issued a warning to consumers to stop using some of the Seattle-based company’s bikes because of danger posed by their lithium-ion batteries.
It follows the revelation, in early November, that the once hard-charging startup was fighting for survival as it faced “significant financial challenges.”
A Rad spokesperson said in a statement provided to GeekWire on Tuesday that the company was navigating an extraordinary period of challenge and change.
“As we work to secure a sustainable future for the Rad brand, Rad has filed for Chapter 11 protection as part of a process to complete a sale of the company within the next 45–60 days,” the statement said. “This step allows us to keep operating in the ordinary course of business while we pursue the best possible outcome for the people who rely on Rad every day.”
Rad said its goal is to keep the company intact and preserve relationships it has built with riders, vendors, suppliers, and partners.
RELATED: The rise and fall of Rad Power Bikes: From breakout success to the brink of shutdown
Rad previously filed notice with the Washington state Employment Security Department in which it said the company could shut down as early as January, and that 64 jobs would be impacted.
The filing shows that the company remains primarily controlled by its founder, Mike Radenbaugh, who holds the largest individual stake, more than 41%.
Institutional investors hold significant minority positions, including VCVC V LLC (6.55%), an investment vehicle associated with Cercano Management, and Durable Capital Master Fund LP (5.79%). Co-founder Ty Collins retains a 4.23% stake.
The company’s largest unsecured debts include nearly $8.4 million owed to U.S. Customs and Border Protection for tariffs, and more than $8 million to overseas manufacturers. Insurance companies and individuals seeking to recover payouts related to Rad bikes are owed about $4.3 million, and two people are each owed $1 million for damages, likely from lawsuits.
Rad was conceived in 2007 by Radenbaugh and Collins, who met as students at Humboldt State University in Northern California and built their first e-bike together. After years of doing custom conversions of traditional bikes to electric, they launched their company as a direct-to-consumer brand in 2015.
Rad saw big demand amid the pandemic as more people bought e-bikes. Its sales and workforce surged and it raised more than $300 million from investors in 2021. The company was valued at $1.65 billion that year, according to PitchBook, making it one of a handful of “unicorn” startups in the Seattle region at the time.
Rad operates out of a headquarters and flagship retail location on NW 52nd Street in Seattle’s Ballard neighborhood.
The company is currently led by CEO Kathi Lentzsch, who previously ran Bartell Drugs as CEO before the company sold to Rite-Aid in 2020. She also led companies including Gump’s and Elephant Pharmacy, and held exec roles at Enesco, Pottery Barn and World Market.
Lentzsch replaced Phil Molyneux, the former Sony president who stepped down earlier this year after leading Rad for more than two years.
The CPSC’s Nov. 24 product safety warning, which listed a variety of Rad bikes and battery models, urged consumers to immediately remove and dispose of hazardous batteries that “can unexpectedly ignite and explode, posing a fire hazard to consumers, especially when the battery or the harness has been exposed to water and debris.”
Rad disputed the CPSC’s findings, saying at the time that the company “firmly stands behind our batteries and our reputation as leaders in the e-bike industry, and strongly disagrees with the CPSC’s characterization of certain Rad batteries as defective or unsafe.”
Rad said the significant cost of CPSC’s all-or-nothing recall demand would force Rad to shut down immediately with no way to support its riders or employees.
On Tuesday, Rad said it was “not giving up” and that it was “focused on doing everything we can to strengthen the future of the Rad brand.”