business β€’ Bicycleretailer.com β€’ 6 months ago

Rad Power Bikes files for bankruptcy protection - Bicycle Retailer & Industry News

Rad Power Bikes files for bankruptcy protection - Bicycle Retailer & Industry News

SEATTLE (BRAIN) β€” Rad Power Bikes filed for Chapter 11 bankruptcy protection Monday in advance of completing a sale of the company and less than a month after it said it could not afford a recall on some of its older lithium-ion batteries that the Consumer Pr…

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Rad Power Bikes' plunge into bankruptcy under the crushing wheel of capitalism exposes the brutal reality for workers and consumers alikeβ€”a future incinerated on the altar of profit and reckless growth. With founders and VCs potentially safeguarding their stakes while employees face layoffs and consumers are left with hazardous products, it's a stark reminder of the exploitative core of capitalist ventures. Down with the system that sacrifices safety and livelihoods for the bloated pockets of the few!

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