VanMoof is also entering bankruptcy proceedings in Germany

VanMoof is also entering bankruptcy proceedings in Germany

VanMoof explains that the store in the German capital will be closed all week. Shops in other cities in Germany, such as Frankfurt, Cologne and Hanover, appear to be open. However, the court ruled that VanMoof must hand over its financial resources to the administrator.

The court in Amsterdam declared VanMoof’s Dutch branch bankrupt in July. Overseas business units are not included in this bankruptcy. An investigation is ongoing as to whether a restart is possible. Last week, the CEO of US-based, which was in the running for an acquisition, reported that its bid had been rejected. manufactures electric bicycles and scooters with operations in the United States and Europe.

VanMoof parts proved to be their Achilles’ heel

VanMoof went bankrupt after years of losing tens of millions of euros. In 2021 alone, the company ended up with a loss of €77.8m, with a turnover of €65.6m. This was partly due to the high costs of repairing bicycles, which often showed defects. The e-bikes are full of VanMoof’s proprietary parts, which have also turned out to be a financial Achilles’ heel. Huge investment is required.

Since VanMoof was founded, 190,000 bicycles from the brand have been sold worldwide. In addition to the Netherlands and Germany, the bike company also has stores in the United States, Ireland, Great Britain, France, Austria, Japan and Denmark.

Dutch VanMoof customers can only pick up their bike from shops in Amsterdam, Rotterdam and Utrecht this week. VanMoof confirms on its website that shops will then open only for bike collection. The staff helps with this, but they can no longer make repairs. They also cannot answer questions about pending orders or refunds.

Read also

Bikes, like the VanMoof, are increasingly becoming a status symbol. In fact, your environment chooses you
The bankrupt VanMoof faced the socioeconomic divide in the big cities and said a lot about the owner of the bike. But this also increasingly applies to other brands.

See also  Nearly half of electricity production is from renewable sources

Leave a Reply

Your email address will not be published. Required fields are marked *