Bianchi faces financial turmoil and restructuring amid €100 million debt crisis
The historic Italian bicycle manufacturer has entered a financial restructuring process following years of mounting losses and increasing pressure across the global cycling industry.
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One of cycling's most iconic brands is facing an uncertain future. Italian bicycle manufacturer Bianchi has entered a financial restructuring process after accumulating approximately €100 million in debt, raising serious questions about the company's financial stability and its long-term outlook.
According to an investigation published by Escape Collective, the 141-year-old manufacturer is seeking to renegotiate its financial obligations with creditors following several years of significant losses and over ambitious investments.
The reported figures reveal the extent of the challenges facing the company.
At the end of 2024, Bianchi had approximately €100 million in liabilities, including €64.3 million owed to banks. Between 2023 and 2025, the company recorded cumulative losses of around €28 million.
Years of investment catch up with Bianchi
Bianchi's financial difficulties follow a period of ambitious expansion during the pandemic cycling boom. The company invested in a new production facility in Treviglio, Italy, expanded its electric bicycle range and strengthened its international presence.
But as demand declined, the industry was left struggling with excess inventory, falling sales and increasing pressure on margins. For Bianchi, the downturn exposed the risks of its expansion strategy.
In an interview with Escape Collective, interim CEO Tony Grimaldi acknowledged the company's overambitious approach.
"We have been too ambitious in too many segments," Grimaldi said.
Bianchi has now entered a formal Italian restructuring procedure known as composizione negoziata della crisi, allowing it to negotiate with creditors while continuing operations.
According to Escape Collective, the company has until January 2027, potentially extending to late May, to reach agreements with its creditors. Bianchi has not declared bankruptcy, and the process is intended to provide a path towards financial recovery.
"It's a structured way to be transparent that you are reorganising and restructuring," Grimaldi said.
Bahrain Victorious partnership ends after just one season
Bianchi's financial troubles coincide with the early termination of its partnership with the Bahrain Victorious WorldTour team, bringing an unexpected end to a deal originally intended to run for multiple seasons.
On October 29, both parties confirmed they had parted ways by mutual agreement, just one season into their partnership. The following day, Bahrain Victorious announced Factor Bikes as its new official bicycle supplier from January 2027.
The move will see Bahrain Victorious race on its third bicycle brand in three seasons, following its previous partnership with Merida. For Factor, it marks a return to the men's WorldTour after its partnership with Israel-Premier Tech ended in 2025.
For Bianchi, the departure leaves the Italian manufacturer without a confirmed WorldTour team for 2027, removing a major platform for international brand visibility and product exposure at the highest level of the sport.
The timing is notable, coming just days before the extent of Bianchi's financial difficulties was reported. Bianchi nor Bahrain Victorious has disclosed the reasons behind the early termination, and there is no confirmation that the decision was directly related to the manufacturer's financial situation.
