Scott receives £137m loan as industry overstocking crisis bites

Swiss bike manufacturer borrows money from shareholder for "financial support"

Team DSM on Scott bikes at the Vuelta a España 2023
(Image credit: Getty Images)

Scott Sports has received a loan of CHF 150million (£137m, $174m) to help “improve its financial structure” and balance its high stock inventory.  

The loan, provided to the company responsible for bikes such as the Scott Addict and Scott Foil, comes from the manufacturer's majority shareholder, South Korean clothing company Youngone Corporation, and will be paid in instalments at a 4.6% interest rate.

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Tom Davidson
Senior News Writer

Tom joined Cycling Weekly as a news and features writer in the summer of 2022, having previously contributed as a freelancer. He is the host of The TT Podcast, which covers both the men's and women's pelotons and has featured a number of prominent British riders. 

An enthusiastic cyclist himself, Tom likes it most when the road goes uphill and actively seeks out double-figure gradients on his rides. 

He's also fluent in French and Spanish and holds a master's degree in International Journalism.