Dundee e-bike hire business placed into liquidation

Ride-on Scotland, the e-bike hire business based in Dundee and Leicester, has been placed in liquidation. 

The Dundee-based business, which was established in 2018, made investments in e-bikes, docking and charging stations, software, maintenance systems, and support.

Enzen later bought it fully in 2020. Ride-on established a membership model with recurring monthly or yearly payments that, when combined with an app, allowed for 24/7 access.

Contracts to run the services had been given to the company by the cities of Dundee and Leicester.

FRP Advisory appointed join liquidators of Ride on Scotland 

Both the Leicester and Dundee businesses shut down last week. The Dundee business did so in November.

The lack of investment caused the company to experience unmanageable working capital and cash flow issues, leaving the board with little choice but to ask for the appointment of interim liquidators.

All nine of Ride-nine on’s employees have been laid off as the company’s operations in Dundee and Leicester have now ceased operations.

Provisional joint liquidators Now that the business is being shut down, FRP Advisory will put it up for sale along with its assets, which include a fleet of e-bikes (around 200 in Dundee and 300 in Leicester), charging stations, software, and maintenance equipment.

Also, the company will concentrate on assisting the impacted workers in filing claims with the Redundancy Payments Office and utilising employment assistance services.

“Ride-on Scotland had developed a sophisticated and customer-focused e-bike rental business that had attracted a sizeable membership base and significant interest from local councils across the UK,” said Callum Carmichael, partner of FRP Consultancy and joint provisional liquidator.

Lack of investment lead to its downfall 

“Unfortunately, a lack of investment has negatively harmed the firm, creating unmanageable cash flow issues.

“We kindly request that any creditors or customer subscribers who wish to make a claim do so by contacting FRP Advisory directly.

We would like to urge interested parties to contact Gordon McIntyre in our Glasgow office. “We will be selling a modern fleet of urban hire e-bikes and infrastructure that would appeal to an established operator or an entrepreneur wishing to enter the growing urban e-bike hire sector.”

FRP put assets ups for sale

Following the demise of a Dundee-based rental business, hundreds of e-bikes have been listed for sale. The action follows the appointment of insolvency specialists in Dundee FRP Advisory as provisional liquidators to wound up Ride-on Scotland.

The complete fleet of the business, which includes 200 e-bikes in Dundee and 300 at its base in Leicester, has been placed up for sale.
Moreover, maintenance systems, software, and charging systems have been placed up for sale.

Contracts to run the services had been given to Ride-on by the city councils of Dundee and Leicester.  According to FRP Consulting, a lack of investment has caused the company to experience “unsustainable working capital and cash flow concerns.”

All nine of Ride-nine on’s employees have been laid off as the company’s operations in Dundee and Leicester have now ceased operations. The initiative had “the potential to enhance cycling as a preferred method of transport in the city,” according to a spokesperson for Leicester City Council, who expressed disappointment that it would not be able to continue.

“We will soon be selling a modern fleet of urban hire e-bikes and infrastructure that would appeal to an established operator or an entrepreneur eager to enter the market,” said joint provisional liquidator Callum Carmichael.”

We will soon be selling a modern fleet of urban rental e-bikes and infrastructure that would appeal to an established operator or an entrepreneur wishing to enter the booming urban e-bike hire sector,” said joint provisional liquidator Callum Carmichael.

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