Sachs in trouble

Sachs, the makers of quirky learner bikes like the XTC125 and MadAss, has gone in to insolvency after failing to come up with cash it owed.

The German firm ran in to financial troubles when a distribution deal with one Chinese firm dried up and promised funding from another failed to materialise.
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The company was unable to top up its pension scheme and had to call in the receivers.

Once employee’s salaries have been secured the administrators will look at ways to restructure the business and get it on its feet again.