Recalls from Pedego and Pacific Cycle, Updates to Rad’s Leadership, and Electric Bike Co.’s Assets Auction | TWR Ep 63

The company’s Chief Financial Officer, Angelina “Angy” Smith has, for the moment, been raised to the role of CEO. She joined the company in April after previously holding CFO positions at the travel company TrovaTrip and Athena Consumer Acquisition Corporation.

This move comes after Rad Power Bikes’ recent Chapter 11 bankruptcy filing. The company is currently downsizing its administrative team as it works through the bankruptcy process.
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Angy Smith will replace Kathi Lentzsch, who took over the role of CEO in March, and will be Rad’s fourth CEO in three years.

Our Take:
As we’ve covered in previous weeks, we’re hopeful that this news is a positive step for Rad’s future. As the end of the year approaches, we’re nearing the deadline mentioned in the company’s WARN notice, filed in November.

We hope to see the brand purchased by an outside investor or gain funding through some other method that would allow it to remain open in January and beyond. .

The first recall concerns Pedego’s Fat Tire Trikes, which can pose both a fall and a laceration hazard. The potential issue can be caused by cracks that may develop near a weld in the frame. If this happens, the tubes can separate, resulting in injuries.

So far, 16 incidents of frame breakage have been reported, with one owner suffering a laceration to their leg.

The affected Fat Tire Trikes come in matte black, and were sold between March 2024 and March 2025 for between $3,500 and $4,000, both in-store and online.

If you own one of these trikes, stop using it immediately! You can contact Pedego via a registration form on their website to schedule a repair, which includes the replacement of a portion of the frame.

According to their website, Pedego “reengineered and strengthened the section of the frame in question. ” The company will ship the replacement section of frame to your nearest dealer after you complete the form, then notify you that your part has arrived. Repairs will be performed at no charge. At the time of writing, lead times are 4-6 weeks.

This week’s second recall, issued by Pacific Cycle, concerns Schwinn Ovation child carriers. 650 units are being recalled, as their buckles can loosen, presenting a fall hazard. No injuries have been reported at the time of writing. The affected child carriers were sold on Amazon and Schwinnbikes.com from May through September.

If you believe you may own one of the affected carriers, you can get more information regarding specific model numbers and ways to get a refund via the recall page on Pacific Cycle’s website.

Electric Bike Company (EBC) previously filed Chapter 7 bankruptcy in October, so the sale of its property is being overseen by a court to pay back its creditors.

In addition to the brand, website, and other intellectual property, the company’s remaining inventory and equipment are for sale.Its inventory consists of finished and in-progress products, while its equipment includes paint supplies, wheel building tools, assembly equipment, jigs, etc.

Interested buyers can get more details by contacting [email protected] and completing a non-disclosure agreement. Bid on any of EBC’s physical and/or intellectual property will be due in January, but if an auction is required for remaining assets, they will be offered in early February. Closing is expected by the end of February.

Our Take:
Electric Bike Company was, of course, an iconic name in the industry prior to its bankruptcy filing. Considering the potential value of its assets, we are curious to see if there will be some future rebirth of the company, and if so, what form it will take. As always when it comes to uncertain situations, time will tell!

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