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Bianchi has entered an Italian negotiated restructuring process to renegotiate its debts and seek protection from creditors. Cycling Weekly, citing Escape Collective and the company’s latest published accounts, reports that Bianchi owed more than €100 million at the end of 2024, including €64.3 million to banks. The company’s 2025 accounts are delayed, and its interim CEO says the brand believes it can restructure.
Bianchi has entered Italy’s negotiated crisis-settlement process as the bicycle maker seeks to restructure its finances and renegotiate debts reported at more than €100 million. Cycling Weekly, citing a report by Escape Collective, says the company filed its request on September 30; its interim CEO has said Bianchi believes it has a restructuring plan, while insolvency remains a possible outcome if debts are not resolved.
The process, called composizione negoziata della crisi (CNC), is a voluntary route intended to help financially troubled companies reach an agreement with creditors and avoid insolvency. According to Escape Collective, Bianchi has sought protection from creditors while it negotiates debt terms. The process normally lasts 180 days and can be extended to 240 days. The report gives May 28, 2027, as the deadline for Bianchi’s negotiations.
Bianchi’s latest full accounts, published at the end of 2024, showed liabilities of more than €100 million, including €64.3 million owed to banks, according to the reports. The company’s 2025 accounts have been delayed while it restructures. Escape Collective reported that the company’s losses fell to €7.7 million in 2024, after several years of financial losses following the pandemic.
The restructuring comes as Bianchi’s sponsorship of WorldTour team Bahrain Victorious ends after one year. The team rode Bianchi bikes during the season. The company has also continued to release products, including the Infinito endurance road bike in March and the Specialissima in June, according to Cycling Weekly.
A Debt Plan Could Shape Bianchi’s Future
The process could determine whether Bianchi reaches an agreement with creditors or faces insolvency proceedings. An agreement could give the company time to adjust its finances; failure to reach one could leave it exposed to insolvency, according to the reports. No insolvency filing is reported, and entering CNC is not itself a declaration of insolvency.
Bianchi is pursuing restructuring while continuing to launch bikes. Its 2025 accounts are delayed, and the reported liabilities indicate financial pressure. The Bahrain Victorious sponsorship is ending after one year, but the available reporting does not establish that the sponsorship decision was caused by Bianchi’s debt or restructuring.
Bianchi has supplied bikes to several WorldTour teams over the past decade. Its financial position could affect business relationships if restructuring changes spending or operations. No specific production or spending changes have been confirmed in the source material.
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Pandemic-Era Losses and Expansion
Bianchi was founded in 1885 and is owned by Sweden-based Grimaldi Industri, which has held the company since 1997. It supplied bikes to teams including Jumbo-Visma, Arkéa-Samsic, BikeExchange and Bahrain Victorious during the past decade.
Escape Collective reported that Bianchi had been profitable before the pandemic, then faced losses amid industry-wide oversupply and discounting. The company’s interim CEO linked its difficulties to investment across too many business areas. The company opened a new headquarters and factory in Treviglio, east of Milan, in 2024, while continuing to develop and launch products. Its leadership has changed four times since 2021, according to the report.
This background describes pressures and decisions reported by the outlets; it does not establish that any single investment, market shift or sponsorship change caused the current debt position. The published 2024 accounts are the latest full accounts cited in the reporting, and the delayed 2025 accounts could provide a newer view once released.
“We have been too ambitious in too many segments, and the bicycle industry is so tough. You cannot do everything everywhere, especially when we know that the market is oversupplied.”
— Tony Grimaldi, Bianchi interim CEO, speaking to Escape Collective
Debt Terms and Accounts Still Pending
The reporting does not specify the full terms of Bianchi’s debts, which creditors have agreed to negotiate, or what repayment changes the company is seeking. The company’s 2025 accounts remain delayed, leaving its more recent financial position unclear. The reported figure of more than €100 million relates to liabilities in the accounts published at the end of 2024; the sources do not provide a newer total.
It is also not clear whether the CNC process will be extended, whether Bianchi will reach agreements with creditors, or what operational changes might follow. The reports describe insolvency as a possible consequence if debts are not renegotiated, not as an outcome that has already occurred. Cycling Weekly said it had contacted Bianchi for comment and would update its report if the company responded.
Creditors and Financial Filings Ahead
The next key developments are the outcome of negotiations with creditors and the publication of Bianchi’s delayed 2025 accounts. Under the reported timetable, the CNC process is due to conclude by May 28, 2027, unless extended within the process rules. Any agreement, extension or move toward insolvency would clarify the company’s financial path.
Until those steps are reported, the available information is that Bianchi is pursuing a negotiated restructuring, while the debt total and insolvency risk come from published reporting and accounts cited by the outlets. The company has continued to release products, but the source material does not provide a detailed forecast for production, staffing or future sponsorships.
Key Questions
Has Bianchi filed for insolvency?
The reporting does not say that Bianchi has filed for insolvency. It says the company entered Italy’s voluntary CNC restructuring process to negotiate with creditors; insolvency is described as a possible outcome if debts are not resolved.
How much does Bianchi reportedly owe?
Bianchi’s full accounts published at the end of 2024 showed more than €100 million in liabilities, including €64.3 million owed to banks, according to Cycling Weekly’s report citing Escape Collective. No newer total is provided in the source material.
What is the CNC process?
Composizione negoziata della crisi is a voluntary Italian process intended to help a company in financial difficulty negotiate with creditors and avoid insolvency. The reports say it normally lasts 180 days and can be extended to 240 days.
Does the restructuring mean Bianchi will stop making bikes?
The source material does not report that Bianchi is stopping production. It says the company has continued to launch bikes, while its 2025 accounts are delayed and it negotiates with creditors. Future production plans are not specified.
When could the restructuring process conclude?
The reports give May 28, 2027, as the deadline for the process, based on the reported filing date and possible extension. Whether Bianchi’s negotiations will conclude by then or the process will be extended remains unclear.
Source: cyclingweekly.com
