Bixi Bankrupt, But Service May Still Operate This Summer

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Cyclists ride past a Bixi bicycle stand in Toronto, Ont. Montreal's Bixi bike-sharing service has applied for protection from its creditors. (Kevin Van Paassen/The Globe and Mail) | CP

MONTREAL - Montreal's bike sharing service, Bixi, has gone bust.

Bixi has filed for bankruptcy protection, but Montreal Mayor Denis Coderre says the service is still expected to operate this summer.

Coderre says Bixi owes the City of Montreal about $48 million and can't loan the bike sharing company any more money.

The mayor says it's not Montreal's role to replace private enterprise.

Bixi was developed in Montreal in 2008 and expanded internationally to countries such as the United States and Australia.

Coderre says Bixi has been trying to sell its international operations to raise money, but has been unsuccessful so far.

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