Just a few weeks ago, YT Industries announced that it was entering into a legal restructuring process to “reorganize and secure the company’s future.” The announcement impacted the brand’s European operations, while the U.S. branch was reportedly unaffected. At the same time, YT claimed that it would remain fully operational, with business continuing as usual. Yet it sounds like anything but business as usual, as many customers were notified that their pending orders were put on hold and have yet to be refunded.
Still, YT has been carrying on with other aspects of its business as if it were business as usual, even launching its new Decoy eMTB the week following. While that bike was surely in the production stage well before the restructuring announcement, it probably felt like another slap in the face to those hoping for a bike or their money back, and getting neither.
This restructuring situation has caused quite a stir, of course, and there has been no shortage of frustration expressed about the brand online. Take a look at the comments on YT’s own Instagram feed if you want a taste. It’s quite clear that many people are very dissatisfied with the way the brand has handled this situation.
Just a few days ago, YT finally issued a statement on Instagram attempting to apologize and reassure those affected that they are actively trying to remedy the situation. Here it is:
Still, it isn’t exactly clear when — or even if — this situation will be resolved, but hopefully everyone owed money will get it back sooner rather than later. It sounds like YT is confident they will sort out all of the cases and refunds, but that remains to be seen. And even when/if they do, it will be interesting to see what the future holds for the brand now that it has eroded consumer confidence so badly.
Fingers crossed for a positive outcome for everyone affected by YT’s restructuring situation. We’ll keep you posted if we hear any news or updates from YT.
