https://www.pinkbike.com/news/yt-industries-begins-restructuring-under-self-administration.html
Contrary to their statement, there have been reports in the EU and UK that people with bikes on order have had their orders put on hold with no refund due to the insolvency.
"Hello Young Talent,
We regret to inform you that, due to ongoing insolvency proceedings, your order [order number] has been put on hold. As your payment was received before the proceedings officially began, it is legally considered part of the insolvency estate.
At this stage, we are unable to issue refunds or provide further details about the status of your payment. We understand how frustrating and disappointing this situation is, especially without a clear resolution.
If you wish to explore your options, we recommend reaching out to your payment provider to inquire about potential next steps.
We truly regret that we cannot offer you a better solution at the moment, and we’re very sorry for the inconvenience this has caused.
Thank you again for your patience and understanding.
Sincerely,
Your YT Industries Team"
Having a massive sale and then cancelling the orders reeks of cash grab be that a last ditch attempt to save the company or something more cynical.
[Mod] https://singletrackmag.com/forum/bike-forum/yt-industries-enter-insolvency/
The recent 50% flash sale now looks more like a cash grab. I wonder how much this will impact their reputation if they work through this.
