E-Bike manufacturer goes into liquidation

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e-bike manufacturer in liquidation

Amsterdam-based VanMoof, an e-bike manufacturer, has gone into liquidation in the UK. The Dutch company confirmed through an email to its customers that the company is undergoing a Creditors’ Voluntary Liquidation.

The message, signed by The VanMoof team, acknowledges the uncertain times for its customers and states that they are currently working on finding the best way forward for e-bikes locked in its Battersea store, which was repossessed by the landlord last week, reports Sifted.

Company gone into liquidation

In an updated post, the Dutch company states, “Begbies Traynor has been engaged for the purpose of assisting the Director with this process, and we would advise that it is proposed that Paul Appleton and Paul Cooper, who are licensed insolvency practitioners bound by the Insolvency Code of Ethics, be appointed as Joint Liquidators.”

The situation has caused chaos for consumers. The flagship London store was repossessed by its owners due to the forfeiture of rent, and customers were given until August 3 to collect their bikes before they would be sold or disposed of by the landlords.

However, there is hope on the horizon as a potential buyer has emerged.

On Monday, July 31, US-based Micromobility.com announced that it has submitted a non-binding bid to acquire VanMoof. The company has not disclosed the financial aspects of the proposal.

The bid comes after VanMoof’s declaration of bankruptcy, and the court of Amsterdam lifting the suspension of payment proceedings for VanMoof Global Holding BV, VanMoof BV, and VanMoof Global Support BV.

The Courts decision

The court’s decision was driven by the Dutch entities’ financial constraints and inability to meet their liabilities.

The potential acquisition of the Dutch company marks a significant step towards Micromobility’s vision of a more sustainable and efficient future for urban transport.

Founded by Salvatore Palella in 2015, Micromobility.com Inc. is dedicated to transforming urban transportation through eco-friendly and accessible solutions.

“This potential acquisition is part of our long-term strategy to consolidate our leadership in the micromobility market and diversify our portfolio of solutions,” Palella explains.

“VanMoof’s strong brand reputation, innovative e-bike technology, and its unique subscription model perfectly align with our vision for the future of urban transport,” adds Palella.

With operations in the US and Europe, the company aims to leverage the Amsterdam company’s advanced e-bike technology and successful subscription model to enhance its product offerings and expand its presence in the market.

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