Owners of Peloton's Tread+ were told to stop using the product after a 2021 recall linked to a child's death and other injuries.
The company added how customers who still wish to return their Tread+ for a"After that date, we will permit returns for a partial, pro-rated refund based on the date the unit was purchased," Peloton states on its website.
Peloton experienced incredible sales growth during the height of the coronavirus pandemic. The New York-based company’s share price multiplied by more than five times in 2020 amid lockdowns that made its bikes and treadmills popular among customers who pay a monthly fee to participate in its interactive workouts.
But sales began to slow in 2021 as the distribution of vaccines drew many people out of their homes and back into gyms.Critics of the high-end exercise equipment maker say the ad is sexist and classist. Since then, Peloton has been in the process of a corporate reorganization. In October the company announced it was cutting about 500 jobs. That announcement came after the company said in August that it would cut 784 jobs, close its North America distribution network and shift delivery work to third-party providers.because the bike’s seat post assembly can break during use, posing fall and injury hazards.
Consumers in the U.S. were similarly advised to immediately stop using the recalled exercise bikes and to contact Peloton for a free repair. Peloton is offering a free seat post that can be self-installed.
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