"Lynskey has between $1 million and $10 million in debt, with assets totaling roughly $50,000. Some 200+ creditors are owed, including SRAM and FSA."
"According to court documents, Lynskey fell behind on order fulfillment due to a lack of certain components, and invoices piled up."
"Shopify instituted arbitrary reserve deposits and egregious chargebacks for delayed orders, to the tune of at least approximately $550,000."
Lynskey, a Tennessee-based frame manufacturer, filed for Chapter 11 bankruptcy on April 30, citing increased operating costs, cash-flow struggles, and e-commerce challenges. The company has debts between $1 million and $10 million, with assets around $50,000. Over 200 creditors are owed, including SRAM and FSA. Customers have reported delays in receiving orders, with some receiving letters about the bankruptcy instead of their bikes. Lynskey attributed its struggles largely to issues with the Shopify platform, including chargebacks and reserve deposits totaling approximately $550,000.
Read at Bikerumor
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