The Amsterdam District Court has declared independent e-bike company VanMoof bankrupt reports BBC, Euronews, The Verge and other outlets. The company initially sought legal protection to give it time to pay its bills but efforts to keep things going failed.
Founded in 2009 by Dutch brothers Taco and Ties Carlier, the firm raised $128m (£98m) from investors in 2021 and at the time claimed to be the “most funded e-bike company in the world”.
The bankruptcy currently only affects VanMoof’s Dutch business, not its international subsidiaries who’s fate is uncertain although its “intention is to keep these entities running as usual”. With around 700 employees the company has shops in 20 cities worldwide, and service hubs in 50 cities.
The company soared during the pandemic with its sleekly designed e-bikes that started at around £2,000, but it struggled to shoulder the costs of repairs, long delivery times for bikes, and a shortage of parts.
Read the full report in BBC here and more about VanMoof here.
