After pausing sales, closing stores, and being unable to pay its bills, beloved Dutch ebike maker VanMoof has officially been declared bankrupt.
Just last week, Dutch courts granted the company a two-month ‘suspension of payment’ to protect it from creditors while it worked with administrators to find a solution.
However, yesterday, the court of Amsterdam withdrew the suspension of payment and declared all three of VanMoof’s legal entities in the Netherlands bankrupt. VanMoof’s units outside the country are not affected.
Such a swift bankruptcy decision usually occurs in cases where authorities can see that a company has exhausted all available cash and any options for financing and sale.
😞
In the past day, we tried to secure investment to keep us afloat and honor our commitments with customers and employees, but unfortunately, that was not possible. The proposal to other bike companies for a buy-out did not work either.
We have no choice but to file for…
— VanMoofer News (@VanMooferNews) July 17, 2023
The
>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : The Next Web – https://thenextweb.com/news/ebike-vanmoof-bankrupt