VanMoof's bankruptcy shows how quickly the tide can turn, even for those considered growth gems.
The Amsterdam court has the well-known electric bicycle brand VanMoof bankrupt declared. This decision was confirmed by the founders in an internal communication to their employees. The company had been struggling with financial problems for some time and received a deferment of payment just a week ago.
A source of significant financial leakage for the company was the cost of the repairs, as a large number of bikes delivered had defects. Complicating this was that the company's lines of communication were often down, hindering interaction between the customer and the company. As a result, customers who managed to get an appointment often had to wait months for their repairs.
In the internal announcement, the founders, Taco and Ties Carlier, thanked their dedicated employees for fourteen years of service.
In the internal announcement, the founders, Taco and Ties Carlier, thanked their dedicated employees for fourteen years of service. The trustees are now tasked with finding potential candidates to enable a restart and restart repair services.
With the final closure of VanMoof, it is necessary for another entity to take over the production of parts to ensure the longevity of the existing electric bicycles. It is a bittersweet end for a brand that was once at the forefront of the electric bicycle revolution in the Netherlands.
moratorium
The deferment of payment, also known as a moratorium, filed by VanMoof was a major sign that the company was in serious financial trouble. Often seen as the last step before a company is declared bankrupt, this legal process is designed to give companies some breathing space to get their financial affairs in order. The trustees will look for candidates for a restart, so that repairs can also be carried out again. In addition to mr. JAH Padberg, mr. RPA de Wit has also been appointed as administrator.
kwikfit
Also aftermath of the bankruptcy (Strida Europe Vanmoof) of electric bicycle manufacturer VanMoof for the repairs. KwikFit, that a few weeks ago started maintenance and the repairs of VanMoof bicycles, reports that it is now without the specific VanMoof parts. This development brings a new set of problems for owners of VanMoof bicycles. The company can still do things that don't require specific VanMoof parts, such as tire repairs, brake replacements and servicing.
