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VanMoof seeks buyer under court protection as debts mount

VanMoof takes bold action to overcome debt, embracing "suspension of payment" with an expert administrator by their side
July 14, 2023

The renowned Amsterdam-based e-bike manufacturer is currently facing financial challenges that have led the company to seek legal protection. As it strives to navigate its debts, VanMoof explores all possible avenues, including a potential sale. Additionally, the company has made the difficult decision to temporarily close its brand stores to ensure the safety of its employees. This proactive measure aims to safeguard their well-being amid rumors of trouble. Under the preliminary "surseance van betaling," a legal provision granting temporary relief from debt payments, VanMoof aims to avoid bankruptcy. This period provides crucial breathing space, shielding the company from creditors' claims. Despite the hurdles, the company's co-founders, Ties and Taco Carlier, will remain at the helm, supported by a court-appointed administrator who will provide guidance and oversee financial decisions. While VanMoof's future hangs in the balance, its dedicated staff members continue their operations, maintaining a sense of normalcy during this challenging time.

VanMoof's journey has encountered obstacles, with mounting financial troubles becoming evident. Talks with external parties were held to prevent the suspension of payment proceedings. However, recent developments, including an unexpected halt in e-bike sales, including the SA5 and new SX4 series, have raised concerns about the company's financial stability. Sales resumption remains uncertain, leaving customers and enthusiasts anxious about the future.

The company's reliance on existing investors for financial support earlier this year and the reported missed interest payment on loans from retail investors have further contributed to VanMoof's current challenges. Amidst these mounting troubles, speculations and predictions of doom have circulated, fueled by the absence of an official response from VanMoof. In online communities like the VanMoofing Facebook group, users have expressed their worries and shared strategies to safeguard their investments, highlighting concerns about potential data loss and the fate of their bikes.

As VanMoof navigates through these turbulent times, stakeholders and supporters eagerly await updates and clarifications from the company, hoping for a resolution that ensures a sustainable future for this beloved Amsterdam-based e-bike manufacturer.

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