Causing its shares to plummet 8%, Peloton announced Wednesday the company will voluntarily recall all of its Tread+ and Tread treadmill machines after continued news of major safety issues.
Peloton has advised customers to cease using the equipment and contact the company for a full refund or other solution.
About 125,000 treadmills are included in the recall.
According to CNBC, the machines have reported numerous injuries and one child died in an incident involving the machine and in April, the U.S. Consumer Product Safety Commission recommended a recall, but the company insisted at the time that there was no reason for consumers to discontinue using them.
The U.S. Consumer Product Safety Commission said children and at least one pet were pulled, pinned and entrapped under the rear roller of the Tread+ treadmill, leading to fractures, scrapes and the death of one child.
“The decision to recall both products was the right thing to do for Peloton’s Members and their families. I want to be clear, Peloton made a mistake in our initial response to the Consumer Product Safety Commission’s request that we recall the Tread+. We should have engaged more productively with them from the outset. For that, I apologize,” CEO John Foley said in a statement Wednesday.
“Today’s announcement reflects our recognition that, by working closely with the CPSC, we can increase safety awareness for our Members. We believe strongly in the future of at-home connected fitness and are committed to work with the CPSC to set new industry safety standards for treadmills. We have a desire and a responsibility to be an industry leader in product safety.”
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