Kaktus Bike in trouble

Bike retailer Kaktus Bike closed all stores a week ago and its online store is not accepting orders. The company, with a 30-year history, was acquired by Marián Fabian from the Blažek family in 2022 and quickly added new stores in Košice, Žilina, Ružomberok, Starý Smokovec, and Prešov to those in Bratislava. The new owner also planned further expansion abroad. The retailer has no debts to the state or to employees, but it has defaulted on a €5m loan from Tatra banka. During the pandemic, bicycle sales boomed in Slovakia, then plummeted. Last year, the company increased sales by 6% to €5.1m and continued to report low losses.

(dennikN.sk)