Remembering Wim Cycle, One of the Kings of Bankrupt Bicycles

Letter From Wim Cycle Fans

Having successfully completed the debt restructuring process through the court channels, bicycle manufacturer brand maker Wim Cycle had to willingly undergo a bankruptcy verdict.

The news came from wim Cycle’s Debt Repayment Obligation (PKPU) Administrator, Rifwaldi Rivai M. Noer to me, Monday (29/6/2020) night.

Rivai said the cause of the bankruptcy was because one of the vendors and the union filed for the annulment of a mutually agreed peace agreement granted by the court.

“That’s [pailit] right. We’ve tried to save but what to say,” said Rivai, pkpu administrator appointed by the Central Jakarta Commercial Court handling the debt restructuring of Wim Cycle.

Bicycle manufacturers, he said, have not paid obligations to a number of creditors under the peace agreement.

Wimcycle bankrupt from Rivai was sad because I was one of the generations that used to be when elementary and junior high school had bicycles that once ruled the shipping industry in the country.

Sangking is a famous brand Wim Cycle, parents buy bicycles with a brand made by PT Wijaya Indonesia Makmur Bicycle Industries.

My childhood was accompanied by the bike. To school, many visit a friend’s house during Eid al-Fitr, and Christmas.

When you go to a stall when asked by parents to buy kitchen needs, in the era before 2000.

Other friends like that of course, don’t they?

In fact, I hope the brand returns to the stage again after making it through a dismal period in pkpu’s debt restructuring circle.

The story of why Wim Cycle is in the pkpu period, I once wrote on this blog with the title Had Been Wrapped in Debt Rp700-1 Billion, Wim Cycle Passed PKPU.

Wijaya Indonesia Makmur Bicycle has passed PKPU because there is a company from Hongkong named Scorpion Enterprise that wants to pay Wijaya Indonesia Makmur’s debt to its creditors.

Certainly, with the realization of homologation of peace, there is a hope that the iconic bike was produced again and side by side with the newest brands of bicycles today.

Along with the cyclists of various ages who began to appear after the Covid-19 pandemic on the highways and I imagine there is such a brand there.

Also imagined, manufacturers also produce folding bicycles that are being embraced by the community.

However, perhaps this time lost hope because Wijaya Indonesia Makmur Bicycle Industries retired.

Hopefully, someone buys the brand and maintains it, so it can restore my childhood memories with that brand.


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