Exercise equipment maker Peloton has officially recalled both its Tread+ and Tread treadmills after safety concerns and dozens of accidents the machines have caused. 

The company’s CEO John Foley had no intention of taking the treadmills off the market back in April, but after the U.S. Consumer Product Safety Commission urged consumers not to purchase or use the product, Foley finally decided to voluntarily recall the 125,000 units. 

"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+," Foley stated. "We should have engaged more productively with them from the outset. For that, I apologize."

"The decision to recall both products was the right thing to do for Peloton’s Members and their families," Foley continued. 

CPSC warned consumers to stop using the equipment in question immediately due to the 70 accidents and one death that have occurred. Many children were getting “entrapped, pinned and pulled under” these machines, which resulted in serious injury.

"The agreement, which the Commission voted this morning to accept, requires Peloton to immediately stop selling and distributing both the Tread+ and Tread products in the United States and refund the full purchase price to consumers who wish to return their treadmills. The agreement between CPSC and Peloton is the result of weeks of intense negotiation and effort, culminating in a cooperative agreement that I believe serves the best interests of Peloton and of consumers,” Robert S. Adler, acting chairman of the CPSC, said. 

Peloton is currently working on modifying the treadmills to make them safer for consumer use. The Tread+ runs around $4,300 while the Tread treadmill runs about $2,500. 

Peloton called the safety commission's warning 'inaccurate and misleading' Peloton called the safety commission's warning 'inaccurate and misleading' Photo: GETTY IMAGES NORTH AMERICA / Ethan Miller