Seattle-based Rad Power Bikes, former darling of the booming e-bike market, warned it could shut down amid slowing sales and the hangover of too-rapid growth during the pandemic.

The company, headquartered in Ballard, “may be forced to cease operations” after failing to find outside partners or funding, a spokesperson said in an emailed statement Monday. A notice filed Friday with the state said 64 Seattle-based workers would be laid off.

Rad Power, once North America’s biggest e-bike brand, is still searching for “other viable options to keep the Rad brand alive,” but warned employees in a letter that it could close Jan. 9.

Much of the global e-bike industry has struggled after surging pandemic demand led many companies to expand operations and stock up on inventory, only to see sales

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