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Bianchi has entered an Italian negotiated restructuring process to seek new terms with creditors and avoid insolvency. Escape Collective reports the bicycle maker owed more than €100 million at the end of 2024, including €64.3 million to banks; the company’s 2025 accounts are delayed. Bianchi interim CEO Tony Grimaldi says the company believes it has a restructuring plan and points to its core business and products.
Bianchi has entered Italy’s negotiated business-crisis process to seek new terms with creditors and avert possible insolvency, according to reports, after its latest published accounts showed more than €100 million in debt. Escape Collective reported that the company formally requested the voluntary procedure on September 30; Bianchi’s interim CEO, Tony Grimaldi, told the outlet the company believes it can restructure.
The procedure, known as composizione negoziata della crisi (CNC), is a voluntary process intended to help financially distressed businesses reach an agreement with creditors and avoid insolvency. Escape Collective reported that Bianchi has sought protection from creditors while negotiating debt terms. The initial process lasts 180 days and may be extended to 240 days, putting the reported deadline at May 28, 2027.
Bianchi’s latest full accounts, published at the end of 2024, showed debts of more than €100 million, including €64.3 million owed to banks, according to Escape Collective. The report said the company had recorded years of losses after the Covid-era boom, amid industry oversupply and discounting. Its losses were €7.7 million in 2024. The company’s 2025 accounts have been delayed while restructuring is under way.
The financial pressure comes as Bianchi has also faced changes in its leadership and racing partnerships. The brand’s sponsorship of WorldTour team Bahrain Victorious is ending after one year, according to the source report. Bianchi, owned by Sweden-based Grimaldi Industri since 1997, has changed leadership four times since 2021. It opened a new headquarters and factory in Treviglio in 2024 and has continued to launch new models.
What Restructuring Means for Bianchi
The CNC filing signals serious financial strain, but it is not itself confirmation that Bianchi is insolvent or that it will cease trading. The process gives the company time to negotiate with creditors while attempting to put its finances on a more sustainable footing. Its outcome could affect suppliers, employees, dealers and customers, though the source material does not report specific operational changes or disruption to sales.
For riders and retailers, the distinction between a restructuring process and a shutdown matters. Bianchi has continued to release bicycles, and Grimaldi has defended the company’s core business. But the delayed accounts and reported debt burden leave questions about its financial flexibility, investment plans and ability to sustain its range and commercial partnerships.
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Debt After the Pandemic Boom
Bianchi was founded in 1885 and has supplied bicycles to several WorldTour teams over the past decade, including Jumbo-Visma, Arkéa-Samsic, BikeExchange and Bahrain Victorious. Its history and presence in professional cycling make the reported restructuring a significant development for a recognizable name in the bicycle industry.
Escape Collective reported that Bianchi was profitable before the pandemic-era market downturn and recorded revenue of €5.2 million in 2021. The subsequent industry period brought oversupply and price cuts, which the report linked to the company’s losses. Bianchi invested in a new Treviglio headquarters and factory in 2024, while continuing to bring new bikes to market, including the Infinito endurance road bike and Specialissima performance model cited in the report.
“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
Questions Around the Debt Plan
The available reporting does not detail the proposed repayment terms, which creditors have agreed to negotiate, or whether the process will be extended. Bianchi’s delayed 2025 accounts also mean the company’s more recent financial position is not established by the figures cited in the report. The €100 million-plus debt figure refers to the latest full accounts published at the end of 2024, not a newly released balance sheet.
It is also unclear what the restructuring could mean for staffing, production, dealers, product availability or future sponsorships. The end of the Bahrain Victorious partnership is a reported development, but the source does not establish that it resulted from the financial process. Cycling Weekly said it had contacted Bianchi for comment and would update its report if the company responded.
Creditor Talks Through May 2027
The next major steps are the creditor negotiations and the release of Bianchi’s delayed 2025 accounts. Under the reported CNC timetable, the company has until May 28, 2027, if the process runs for the maximum 240 days, to reach an agreement or otherwise address its financial situation. The actual timetable could depend on whether the process is extended.
Until Bianchi or its advisers provide further details, the status of any proposed agreement and the practical effects on the business remain unconfirmed. The company’s continued product launches and Grimaldi’s comments provide evidence of its stated intention to continue, but they do not establish the outcome of the restructuring.
Key Questions
Has Bianchi declared insolvency?
No insolvency declaration is reported. Bianchi has reportedly entered a voluntary Italian process intended to negotiate with creditors and help avoid insolvency. The eventual outcome is not known.
How much debt does Bianchi reportedly have?
Escape Collective reported that Bianchi’s accounts published at the end of 2024 showed more than €100 million in debt, including €64.3 million owed to banks. These are figures from those accounts, not a newly published 2025 balance sheet.
What is the CNC process?
Composizione negoziata della crisi is an Italian voluntary procedure for businesses facing financial difficulties. It is designed to help them negotiate with creditors and seek a resolution before insolvency. The reported process lasts 180 days and can be extended to 240 days.
Does the restructuring mean Bianchi bikes will stop being made?
The source material does not say that production or sales are stopping. Bianchi has continued to launch products, but the company’s future operating plans and any effects on availability have not been detailed.
When is Bianchi expected to resolve the process?
According to the reported timetable, the deadline could be May 28, 2027, if the CNC process is extended to 240 days. Whether an extension is granted or creditors reach an agreement sooner is not known.
Source: cyclingweekly.com
