Hövding 3
Hövding 3

Press release -

Hövding Sverige AB files for bankruptcy

The board of Hövding Sverige AB has decided to file for bankruptcy. The bankruptcy application has been submitted today, December 21, 2023, to the Malmö district court.

The reason for the bankruptcy filing is that on November 1, 2023, the Swedish Consumer Agency imposed a temporary sales freeze on the company and then on December 15, 2023 announced a permanent sales freeze and recall for the product Hövding 3.

Hövding does not share the Consumer Agency's conclusion and has appealed the decision. Today it was announced that the Administrative Court approves Hövding’s request for inhibition, which overturns the Swedish Consumer Agency's decision to immediately stop sales and recall which means that Hövding 3 can still be sold. However, the damage caused by the actions of the Swedish Consumer Agency is so extensive that the board does not see that there is a basis for continuing the company.

Hövding would like to take the opportunity to thank all customers, dealers, suppliers and, not least, employees for all the fantastic efforts during the 12 years we have saved the lives of cyclists.

For more information on the matter, contact chairman of the board Joel Eklund via press@hovding.com

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Hövding - Airbag for cyclists

Hövding started out in 2005 as a master’s thesis by the two founders Anna Haupt and Terese Alstin, who, at the time, were studying Industrial Design at the University of Lund.

The project resulted in the concept of an airbag helmet, which won Innovationsbron’s Ideas Grant. This kick-started the process of developing Hövding into a real product. In 2006 Hövding won the Venture Cup, after which Hövding Sweden AB was founded.

Over the years Hövding has grown from just two people with a great idea, to a NASDAQ-listed company that handle everything from development and production to marketing and sales. Today Hövding consists of a team of around 30 people, all triggered by the word impossible, and Hövding’s airbag for cyclists is available in 16 markets across Europe.

The headquarters are located in an old chocolate factory in Malmö – the sixth greatest cycling city in the world. Final assembly of Hövding is carried out in association with the Japanese Company Nihon Plast.

Hövding
Monbijougatan 17C
211 53 Malmö
Sweden
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