COSTA MESA, Calif. (BRAIN) — Electric Bicycle Co., which assembled and painted custom e-bikes at its California facility, filed for Chapter 7 bankruptcy liquidation last week, listing total liabilities of $6.1 million, including secured claims of $960,000, and assets of $953,000.South African-born Sean Lupton-Smith, following a career as a restaurateur, founded EBC about 14 years ago.He told BRAIN on Wednesday that U.S. tariffs on imported components contributed to the failure.
  • SoupBrick@pawb.social
    3·
    10 days ago

    “(I) thought Trump would save the day but in fact our tariffs on our parts went up from 25% to 55% and more,” he said in an email. “KILLED us as well as financing charges and other factors — but competitors are skirting tariffs through other countries — under invoicing and selling direct and often below costs without legitimate certifications, safety standards, etc.”