Bianchi hit by crisis: millions in losses, €100 million in debt, and exit from the WorldTour

Bianchi, one of the most historic brands in cycling, is going through one of its most complicated economic moments. The Italian manufacturer has sought protection from its creditors after accumulating around 28 million euros in losses over the last three years and a debt that reached 100 million. The situation comes just days after announcing its unexpected exit from the WorldTour.

Bianchi seeks an agreement with its creditors to overcome its financial crisis

Founded in 1885, Bianchi has been linked to the history of cycling for 141 years. However, neither its enormous international recognition nor the growth of its sales in recent years has been enough to prevent a financial crisis that now forces the company to reorganize its activities.

According to a report published by Escape Collective, based on business documentation from Italy, Sweden, and the United Kingdom, Bianchi initiated a procedure known in Italy as composizione negoziata della crisi on September 30. This is a legal mechanism that allows companies in difficulty to negotiate a solution with their creditors before reaching an irreversible insolvency situation.

The measure, confirmed by the courts, provides Bianchi with temporary protection against certain actions from its creditors while it negotiates new agreements with banks and suppliers. The initial period extends until the end of January 2027, although it could be extended until the end of May.

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This does not mean that Bianchi has declared bankruptcy or that it will close its facilities. The company continues its operations, and the goal of the procedure is precisely to prevent financial problems from leading to a more serious scenario.

The figures explain the magnitude of the problem. At the end of 2024, the last fiscal year with complete publicly available accounts, Bianchi had accumulated approximately 100 million euros in debt, of which 64.3 million corresponded to banking entities. Additionally, the accumulated losses between 2023 and 2025 are around 28 million euros.

A factory of more than 40 million and too many investments at the same time

Paradoxically, Bianchi's problems did not arise after a significant drop in its revenue, but during a period of expansion.

The company went from generating about 57 million euros in 2019 to achieving a revenue of 114.4 million in 2024. But that growth did not translate into profits. Only between 2023 and 2024 did it record losses amounting to 15 million euros, according to economic data collected by the Italian outlet Bikeitalia.

One of the most important decisions during this period was the construction of its new industrial headquarters in Treviglio, inaugurated in June 2024.

The project involved an investment of over 40 million euros and was part of an ambitious strategy: to recover part of the production in Italy, modernize industrial processes, and significantly increase manufacturing capacity.

To finance this growth, Bianchi also turned to banking entities. In January 2022, Intesa Sanpaolo announced a financing of 15 million euros, partially intended for the acquisition of land and the construction of the new complex.

The problem was the timing. While Bianchi was investing in facilities, new ranges of electric bikes, and international distributors, the cycling market was entering a phase of overproduction following the sales boom caused by the pandemic.

High inventories, promotions, and pressure on margins complicated the profitability of a business structure that had significantly increased its costs.

"We have been too ambitious"

Bianchi's management itself has acknowledged that the growth strategy was excessive.

Tony Grimaldi, son of owner Salvatore Grimaldi and interim CEO since June 2026, explained in an interview with Escape Collective that the company had tried to develop too many projects simultaneously.

"We were investing a lot in too many areas at the same time", he acknowledged.

Grimaldi also admitted that they had been too ambitious in different segments of a particularly challenging market, where it is not viable to try to compete in all categories while there is an excess of available product.

The reorganization also affects the company's management. Since 2021, Bianchi has gone through four different CEOs or general directors, a succession of changes that has coincided with its economic difficulties.

The current leader believes that the restructuring procedure offers an opportunity to negotiate transparently with creditors. According to him, a constructive dialogue has already been established with banking entities.

The crisis coincides with the unexpected breakup with Bahrain Victorious

The economic problems also coincide with a significant change in Bianchi's presence in professional cycling.

On October 29, the Italian brand and Bahrain Victorious officially announced the immediate end of their collaboration, after just one season together.

The agreement had been presented as a multi-year partnership to return Bianchi to the top level of international cycling. However, both parties have decided to terminate it early and by mutual agreement.

Bianchi did not explain the reasons for the breakup. Tony Grimaldi simply thanked the work of the riders and team staff, as well as the opportunity to have participated again in the highest category of cycling.

For its part, Bahrain Victorious has already announced that it will compete with Factor bikes starting in 2027.

The separation leaves Bianchi without representation in the men's WorldTour for the upcoming season and represents the loss of one of its main international commercial showcases.

Although the timing of the financial crisis is significant, there is no official confirmation that the economic problems were the direct cause of the sponsorship termination.

What can happen now with Bianchi?

Bianchi's situation adds to the difficulties faced by other historic manufacturers in the cycling sector, affected by excess inventory and problems arising from market adjustments following the pandemic.

The difference is that Bianchi faces this process after making one of the largest industrial investments in its history, with modern facilities whose profitability depends on achieving sufficient production and sales volume.

The company has been controlled since 1997 by the Swedish group Grimaldi Industri, owned by the Grimaldi family, and now must find a formula that allows it to reduce financial pressure and adapt its costs to the market reality.

So far, there has been no announcement of the closure of the Treviglio factory or the end of Bianchi's activities. The specific agreements it might reach with its creditors and the final scope of the reorganization are also unknown.

What is clear is that the coming months will be decisive. The brand that has accompanied some of the great figures in cycling for over a century now needs to find the balance between its industrial ambition and its economic capacity to ensure its continuity.