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Amsterdam-based VanMoof Announces Bankruptcy Amidst Struggles

It follows last week’s announcement it was to close its brand stores
July 19, 2023

In a heartfelt internal email sent to its employees, the founders of VanMoof, the renowned Dutch bicycle manufacturer, revealed that the company has been declared bankrupt by an Amsterdam court. Despite their best efforts to secure investment and explore a buy-out option, the founders, Taco and Ties Carlier, expressed their regret in admitting that they could not turn the tide and had no choice but to file for bankruptcy.

The bankruptcy announcement, however, solely affects the Dutch entities of VanMoof. Entities in Taiwan, the United States, Japan, Germany, France, and the United Kingdom remain unaffected at this time. According to Taco Carlier, the decision to declare bankruptcy was made in the hopes of giving a fresh start to the VanMoof business, providing potential investors with an opportunity to acquire assets and activities without shouldering existing debt.

The Carlier brothers conveyed their sincerest apologies and appreciation to their dedicated employees, acknowledging the commitment and loyalty shown over the past 14 years. In a separate email to the staff, they expressed their immense sense of pride for the collective achievements during the journey.

Prior to the bankruptcy, VanMoof had been granted a deferment of payment last Wednesday, signifying the extent of the challenges faced by the company. One of the major issues that contributed to their struggles was related to warranty coverage, with several bicycles sold experiencing defects, leading to substantial repair costs.

While the administrators will communicate the exact implications of the bankruptcy on the employees, the founders remain hopeful that this step will pave the way for a potential resurgence of VanMoof's mission and vision.

VanMoof's journey has not been without obstacles, and in 2021, the company reported a staggering loss of nearly 89 million euros, underscoring the uncertainty surrounding its future, as mentioned in a report released six months ago.

As the tech world closely observes this news, the fate of VanMoof remains uncertain. However, the legacy of its innovative and sustainable approach to cycling has left an indelible mark.

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