Italian bike brand Bianchi has entered into a restructuring process, and has until May 2027 to renegotiate its debts, or it may face insolvency, according to reports. A report this week by Escape Collective found that Bianchi has struggled through years of financial losses since the Covid pandemic. The companys latest full accounts, published at the end of 2024, show it owed over 100m, of which 64.3m to banks. According to Escape, Bianchi made a formal request on 30 September for composizione negoziata della crisi (CNC) translated as a negotiated settlement of a business crisis a voluntary process designed to help companies resolve financial difficulties and avoid insolvency. The process lasts for 180 days, but may be extended to 240 days, giving Bianchi a deadline of 28 May 2027.Distress signals sounded last week when it was announced the brand's sponsorship of the WorldTour team Bahrain Victorious was ending after just one year. The company, owned by the Swedish-based Grimaldi Industri since 1997, has changed leadership four times since 2021. Escape's report says the business was profitable before Covid, reaching revenues of 5.2m in 2021, but suffered losses in the wake of the pandemic, as oversupply and price slashing dogged the industry. Bianchi's losses fell to 7.7m in 2024.That same year, Bianchi opened a new headquarters and factory in Treviglio, 30km east of Milan. The company has continued to launch new bikes, including the Infinito endurance road bike in March this year and performance-driven Specialissima in June.Bahrain Victorious rode Bianchi bikes this season. (Image credit: Getty Images)Bianchis interim CEO Tony Grimaldi told Escape his company has fallen victim to investing a lot in too many areas at the same time. We have been too ambitious in too many segments, and the bicycle industry is so tough. You cannot do everything everywhere, especially when we know that the market is oversupplied, he said. The release of the companys 2025 accounts has been delayed while the company restructures. Through the CNC process, Bianchi has asked for protection from its creditors as it renegotiates the terms of its debts. "When you go into it [the CNC], you do it because you are convinced you can restructure and that you have a plan," Grimaldi said. He also reassured: "In our core business, Bianchi has strong credibility. And we have good products."Bianchi was founded in 1885 and is one of the oldest bicycle manufacturers in the world. It has supplied bikes to WorldTour teams Jumbo-Visma, Arka-Samsic, BikeExchange and Bahrain Victorious in the last decade. Cycling Weekly has contacted Bianchi for comment and will update this article if the company responds.