Marking the end of rumours as to its financial stability, Dutch e-bike start-up VanMoof has declared bankruptcy and as a result is seeking legal protection using a Dutch mechanism similar to Americas Chapter 11 process.
Approved by the district court of Amsterdam, the mechanism allows VanMoof to enter into administration to allow it time to reorganise and seek a solution, likely in the form of additional outside investment. It also allowed the company to pause payment of its bills.
Rumours of VanMoofs financial difficulties first emerged in June 2023 when the company stopped accepting new orders, which it blamed on logistical issues and an influx of orders on both the SX4 and SA5 e-bikes two newer models launched this year that proved t…
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