You are here

Court declares VanMoof officially bankrupt, possible asset sale on tap

Published July 18, 2023

AMSTERDAM (BRAIN) — E-bike brand VanMoof officially has been declared bankrupt by the court of Amsterdam, which withdrew suspension of payment proceedings on Monday and cleared the way to a possible asset sale.

Officially, the Dutch legal entities affected were VanMoof Global Holding B.V., VanMoof B.V., and VanMoof Global Support B.V. The company’s legal entities outside the Netherlands are not in insolvency proceedings.

“The two administrators, Mr. Padberg and Mr. De Wit, have been appointed as trustees,” according to a VanMoof statement. “The trustees are continuing to assess the situation at VanMoof and are investigating the possibilities of a re-start out of bankruptcy by means of an asset sale to a third party, so that the activities of VanMoof can be continued.”

VanMoof was granted court protection from creditors last week. The company stopped accepting new orders on its website several weeks ago. At the time, the company said it would stop accepting orders “to catch up on production and delivery of existing orders.”

Earlier this year the company said it would close if it didn’t receive a new cash infusion, which it received from some of its existing investors.

Topics associated with this article: Electric bike

Join the Conversation