July 17, 2023 - VanMoof, an e-bike pioneer founded in 2009, has secured court protection from creditors to explore options including a sale reports Forbes and other news outlets – update as Amsterdam District Court declares VanMoof bankrupt here.
The Netherlands court has appointed administrators to the company which has haulted sales and closed its physical retail stores for the time being as part of “a cooling down period of two months.”
The dynamic, consumer-direct e-bike company had raised over $100 million for its sleek and cool-looking e-bikes, that is still recognized as one of the largest sums of money to raise for a new venture in the cycling industry.
The move ends rumors that had been swirling for weeks about the status of VanMoof, which employs about 700 people, after some customers complained of issues with orders online. Aftersales service was also an issue, while others suggest the product was priced too low adding to the company’s financial woes when the cycling boom, caused by the pandemic, came to an end.
Read the full article here and VanMoof’s customer support information here.
