After the latest battery not-a-recall recall and rumors of laying off staff, you could see this coming. But this week it became official – Rad Power Bikes has filed for chapter 11 bankruptcy protection.
The Seattle-based electric bicycle manufacturer Rad Power Bikes Inc. filed for Chapter 11 bankruptcy protection on December 15, 2025, in the Eastern District of Washington. The company, which operates as one of the OG direct-to-consumer retailers of electric bicycles and accessories, reported estimated assets of $32.1 million against liabilities totaling $72.8 million. Court documents indicate no funds are expected to be available for unsecured creditors.
According to the bankruptcy case (Case No. 25-02183), Mike Radenbaugh holds the largest equity stake at 41.3%, while former CFO Angelina M. Smith is listed as the CEO. The filing includes a Chapter 11 reorganization plan due by April 14, 2026.
The company’s largest unsecured creditor is U.S. Customs and Border Protection, owed $8.36 million in tariffs. Other significant creditors include Bangkok Cycle Industrial Co., Ltd. ($5.35 million in trade debt) and Lisa Gore ($3.2 million in subrogation claims). The creditor list reveals substantial exposure to international suppliers and insurance subrogation claims, with 20 listed creditors representing various trade relationships, damages, and settlement obligations.
Legal representation is provided by Armand J. Kornfeld of Bush Kornfeld LLP. The company previously operated under the name RAD Power Bikes LLC and maintains its website at radpowerbikes.com during the restructuring proceedings. Not only that, but we can confirm that the brand is still sending out marketing emails as of this morning, likely to try and pare down inventory and drum up any remaining cash.
Will Rad Power Bikes live on under a new owner? Time will tell…
