YT Industries Declares a ‘Reset’ as It Enters Self-Administration.

Pete Scullion·
News
·

Markus Flossman headed to YT Industries Youtube channel to bring the news that the company has entered self-administration to restructure the business.

YT Industries have entered a process of self-administration citing the discount wars on overstocked bikes, supplier issues, natural disasters and economic uncertainty. CEO Markus Flossman assures that it will be business as usual until the company has pressed the ‘reset’ button.

Saracen Bike Sale Leader April 25

Update: Reports are filtering through that a number of YT customers who bought bikes during a flash sale earlier in the year have received an email from YT that indicates that their bike orders will not be honoured, nor will they get a refund. We will keep you posted.

Pete Scullion
Pete is Wideopenmag's power house - both on the keys and on the pedals! He loves hammering out miles on his long-term demo bikes and exploring big mountains to bring you stories about them. Pete's happy place is elbow deep in an Iron Maiden riff.
Related

2 Comments

  1. “YT will continue to operate as normal, with customer support for any riders.”
    
    This is simply not true. YT ran a 50% flash sale to do a cash grab from customers in full knowledge they were going to declare insolvency. See email I received from them today below. All the while, their website remains operational and taking new orders.
    
    I, alongside 2 other friends, ordered bikes 25-Jun-25 during what appeared to be a flash 50% sale. Most bikes in all sizes went out of stock within 24 hours. My confirmation email stated the bike would be ready for collection at their Guildford, UK store within 12 working days e.g. 11-Jul. I called the Guildford, UK store 11-Jul and they confirmed my bike was due to be shipped and arrive at the Guildford store this week ready for collection.
    
    I subsequently received the following email today:
    
    ”Hello Young Talent,
    
    We regret to inform you that, due to ongoing insolvency proceedings, your order 1026296 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”

Comments are closed.

Previous
David Evans Passes on Bike Corris Torch After a Decade.
Next
Long Term Review : Pete’s Saracen Ariel 60 Elite.
css.php