Rad Power Bikes files for bankruptcy and is looking to sell the business

Electric bike company Rad Power Bikes filed for Chapter 11 bankruptcy protection on Monday, weeks after it warned employees that it could shut down without new funding. The company will continue to operate while the bankruptcy case proceeds, and it’s looking to sell the business within 45-60 days, a spokesperson told TechCrunch. “This step allows us to keep operating in the ordinary course of business while we pursue the best possible outcome for the people who rely on Rad every day,” they said in a st ...