Staff at struggling dockless bike-sharing start-up Ofo’s international subsidiaries are “prepared for bankruptcy or acquisition” after the company shut its overseas department.
A person familiar with the company said that Beijing-headquartered Ofo’s international arm, which managed the global subsidiaries, had closed this week but employees abroad still had their jobs. The division’s closure was first reported by local Chinese media.
The person said the number of bikes available in the UK had been “dramatically reduced” and staff were taking them off the street and putting them back in depots “so they’re in good order” in case the business shuts.
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