French MTB maker Sunn is in the preliminary stage of insolvency. The company lodged a 'bilan' on Monday. This is an assessment of debts and liabilities issued to a tribunal, a precursor to full insolvency. A 'bilan' is similar to the US Chapter 11 process: debts and interest charges are frozen in order for a rescue package to be assembled.

Where the Sunn don’t shine

Jacques Riba, one of the Sunn’s primary shareholders, has given up his claim to the company’s debt.

A rescue package needs to be in place within the next 60 days.

Sunn, founded in 1989, employs 50 people from a factory at Saint-Gaudens, in the shadow of the Pyrénées, 65 miles from Toulouse.

In other news...

Wattbike calls on PM to ‘do more’ for UK businesses hit with surging costs due to pandemic

Wattbike is calling on Boris Johnson to ‘do more’ for UK businesses who are being …