Onyx Bikes is again, a yr after its proprietor died, leaving the enterprise in ruins

One yr later James Khatiblou, proprietor of Onyx Bikes died suddenlyleaving clients with unfulfilled orders and hundreds of thousands in unpaid debt, the model was revived by its authentic founder.

“I’m thrilled to announce that I’ve resurrected my authentic model Onyx with some unimaginable supporters! founder Tim Seward wrote in a LinkedIn Post Monday. “Onyx is actually again to the long run! »

The corporate solely sells about 100 RCR electrical grime bikes to begin. It is unclear whether or not these are newly produced models or a part of the batch of e-bikes made earlier this yr by Onyx’s Chinese language provider that had been left in limbo following Khatiblou’s loss of life.

Seward didn’t reply to TechCrunch in time to supply details about the corporate’s resurrection and which buyers he had recruited to again the corporate.

Seward, who designed e-bikes for Fowl and Ubco, constructed what could be the primary Onyx e-bike, the RCR, in 2016. After launching the corporate with an Indiegogo marketing campaign two years later, that design grew to become a cult hit. suite of consumers who cherished the made-in-the-USA really feel, the Eighties attraction of the design with a picket physique and the highly effective capabilities of the bike.

In 2019, Seward bought his stake in Onyx to his buddy and former colleague, Khatiblou, who stumbled as an early proprietor whereas making an attempt to develop the corporate. Most of the selections he made created an internet of authorized and monetary issues which have nonetheless not been unraveled. Khatiblou died with out a will or property plan, a complication that crippled all operations, together with deliveries to clients and funds to suppliers and collectors.

Oxygen Funding, an Orange County-based creditor, claimed it was owed $2.2 million in debt. In Might, Oxygen tried to petition the Los Angeles County Probate Courtroom to grow to be the administrator of Khatiblou’s property, which might permit it to manage Onyx’s remaining belongings and, apparently, promote these belongings to make itself worthwhile. repay.

Oxygen CEO Adam Lomax informed TechCrunch on Tuesday that he had no information of Onyx’s rebirth underneath Seward. He additionally famous that Oxygen’s movement to manage Khatiblou’s property continues to be in limbo, awaiting a yet-to-be-set listening to date, and that his firm has but to be reimbursed.

Oxygen wasn’t the one creditor preventing for a chunk of Onyx. Pursuant to a 2019 working settlement, Kenneth Ames, a former engineering and procurement manager within the Simi Valley-based LED lighting business, and Troy Smith, a independent accountant based mostly in Carlsbad, has a 37.5% curiosity in Onyx LLC. Onyx LLC can also be the entity that owns the Onyx model, in keeping with a model project settlement.

It’s unclear if Ames and Smith are concerned in Onyx’s revival. TechCrunch has contacted Ames, Troy and their attorneys to study extra. TechCrunch will replace the article in the event that they reply.