Connected e-bike maker VanMoof is insolvent. A court decision in Amsterdam places the brand in the hands of administrators and the brand’s stores will close.
It is amazement. VanMoof, the Dutch connected electric bike brand, is insolvent. The company announced the situation by press release, which Numerama received on July 12, 2023 at the end of the day. ” On Wednesday July 12, the Amsterdam District Court granted VanMoof Global Holding BV a stay of payment and appointed two administrators “, indicates the press release.
The letter also explains that these administrators are trying to find a solution that would allow VanMoof to ” continue its activities » and not putting the key under the door completely. Waiting for, “ we have decided to temporarily close the brand’s stores for the safety of our colleagues in the stores “, specified the manufacturer.
VanMoof, the flagship brand of connected electric bikes, goes bankrupt
A default occurs when a company can no longer settle its debts with its available funds — the situation is also called ” bankruptcy filing “recalls the Ministry of the Economy. Now that VanMoof has made its declaration to the Amsterdam court, the directors appointed to run the company will try to save the company.
The news comes a few days after the publication of a TechCrunch article, in which the newspaper reported serious difficulties within VanMoof. The cash-strapped company had sought to raise funds earlier in the year, but failed to reach the amount hoped for. She had since made the decision, in all discretion, to no longer accept orders for new bikes, fueling questions about her financial state.
The TechCrunch article also revealed that most of VanMoof’s management had left, including the president, CEO, and a co-founder of the company. The brand had remained silent, and had not answered our questions, nor those of TechCrunch, until now.
Despite the decision of the Amsterdam court and the closure of the shops, ” we strive to continue our services VanMoof says in its statement. ” [Nous] separately contact all customers as soon as possible regarding deliveries or ongoing repairs. »
The VanMoof bikes differed from the others in that they were ultra-connected bikes, with a dedicated app that allowed you to control a large number of settings. With their recognizable design and high-end finishes, the cycles were very popular when they were launched and were able to take a certain lead over their competitors. However, this lead had diminished over the years, with other brands investing in the niche of connected bicycles. It seems that VanMoof never managed to find the right formula to relaunch.
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