Rad Power Bikes, the Yakima-based e-bike brand, filed for Chapter 11 bankruptcy in the Eastern District of Washington after a planned sale of the company fell through earlier this fall. Rad Power’s new CEO, Angelina Smith, the company’s CFO who ascended to the top job concurrent with the filing, also attributed the move to a recent CPSC decision to warn consumers about possible fires from Rad’s older battery technology. In an affidavit, Smith said the agency took the unusual step without mentioning that Rad’s current batteries are a new, safer design.

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