With the exception of the e-bike market, all non-motorized bike segments seem to be contracting.
I see the entire non-motorized bike industry in decline. Green Gear's sale is just one manifestation of that decline. I certainly don't blame them for not being able to see what's coming, namely, why pedal if you've got a motor? Why even own a bike if you can rent an electric scooter for the times you need one?
If Green Gear wants to thrive, I think they have to play up their motorized folders. Seems that's the only market with profit or growth available.