Reby has formally entered bankruptcy proceedings. The European arm behind its electric scooter rental venture, named Launch, is part of the broader Reby group operating under the Global Reby umbrella. The process began when the company failed to settle debts and a bankruptcy administrator was appointed. He has already started reaching out to former employees to determine the total liability. Shortly after the initial court order, the assets were placed under control. A United States entity facilitated the withdrawal of a Canadian fund worth nearly $100 million from the deal amid alleged supplier debts in Spain and Italy running into millions, and a non-payment lawsuit was filed for liabilities, including a potential 65,000 euros owed to several former workers.
According to documents obtained by EL PERIÓDICO from the Prensa Ibérica group, a Barcelona court acted last February to process a case in which 13 former employees sought 65,000 euros in unpaid wages from the company, covering October, November and, in some cases, December of the previous year. There were prior claims that workers had received monthly payments, but Reby argued those were not true and that only a temporary employment regulation filing (ERTE) had been made.
Nevertheless, the lawsuit filed by lawyer Jorge Soler concerns that situation. “Since October, the company’s leadership discussed potential acquisitions. Reby Rides and Reby Global were said to be bought by foreign investors who would inject capital, but by late October 2022 the payroll had not been paid and the same issue recurred in November 2022.”
In an email from venture management to workers in late October, the delay was attributed to an “existing treasury issue.” “They confirmed it just minutes ago even though we are working until the last minute to avoid this situation. one of the financing operations will be postponed a few days,” the company stated at the time.
Problems with a key investor
At that moment, Reby faced a difficult arrangement involving roughly $40 million (about 35 million euros) entering the company’s coffers. A Canadian mutual fund, Lithium House, had decided to acquire the firm for around $100 million—half in cash, half in stock—but failed to execute the payments, prompting Reby to sue. Delaware, United States, where the company was founded, is home to its headquarters, according to the restructuring documents. The court ruling indicated that Lithium House sought to withdraw from the transaction, with the fund already exploring ways to exit the deal as of July.
If the United States court sides with this withdrawal, it would hinge on perceived gaps in the pre-purchase agreement, though the ruling also notes credibility questions on both sides. Pep Gomez, founder of Reby, and Kevin Taylor, CEO of Lithium, remain central figures. The so-called startup buyer sought to dodge paying nearly $100 million as agreed. Reports from several sources indicate that the plaintiffs intend to appeal the ruling, seeking a remedy that would preserve the ability to recover the invested funds.
Regardless, the financial stress deepens as more ex-employees claim additional debts beyond the 65,000 euros. Italian firm K-City accuses Reby of owing 2 million, and in Spain the private employment center La Sonrisa de Guille is pursuing 60,000 euros for unpaid services. This nonprofit explained to EL PERIÓDICO that it had to lay off two staff members due to liquidity problems and was on the brink of bankruptcy. A spokesperson for the project remarked that the matter is playing out in a Barcelona court, with the parties unable to locate all facts.
Currently, Reby has not taken formal action on the dispute. A class action includes claims for about thirty payrolls and five settlements, though EL PERIÓDICO has learned there are additional cases and some workers opted not to participate while waiting for Reby to formalize the process. FOGASA is expected to handle these debts. The startup has not appeared in court according to Pascual Soler, the attorney who represented the case, and no reconciliation file exists from June 2024.
Requests for comment about the company and its original founder, Pep Gomez, have not been answered.