Bike-sharing company Mobike faces $1.3m problem after collapse
The Australian arm of the business failed after five years, despite boasting global success at one stage, and now it’s left a $1.3m problem behind.
January 10, 2023 - 2:52PM
More than 1600 bikes worth a whopping $1.3 million can’t be recovered and will be left abandoned on streets and in warehouses around Australia after bike sharing company Mobike collapsed, a liquidator’s report has revealed.
*** Mobike owner Meituan blamed the price hikes on “increases in hardware, operations and maintenance costs”, while the industry as a whole had been hit by a shortage of raw materials, including steel, plastic and tires and had also battled intense competition with billions lost. ...
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