Dutch e-bike brand VanMoof has been declared bankrupt.
The company said in a statement that a judge at the Amsterdam District Court had declared Dutch entities VanMoof Global Holding BV, VanMoof BV and Van Moof Global Support BV bankrupt on Tuesday, July 17.
Administrators are now in the process of assessing the situation and the possibility of a restart.
This includes exploring a sales process for the assets and activities of VanMoof to a third party so the company can continue operations.
Legal entities outside the Netherlands are not currently involved in the insolvency proceedings. The brand’s intention is to keep these entities running as usual
The decision on VanMoof’s bankruptcy came sooner than expected as only last week the brand filed for Chapter 11 status to protect it from creditors.
This led to the court ordering a two-month cooling down period to allow administrators to assess the situation in order to find a solution so that VanMoof could continue its activities.
Despite this, the administrators have seen no other option than to declare the brand bankrupt.
The company has confirmed its e-bikes will remain functional and rideable as it aims to keep the VanMoof app and servers online, with hopes of securing the ongoing services for the future.
As unforeseen circumstances could arise, owners are advised to create a backup unlock code so they can unlock the bike through the buttons on the handlebar.
Outgoing deliveries of replacement e-bikes, accessories and parts have been stopped, and the brand’s stores will remain closed.
All repaired and unrepaired bikes that are owned by riders, and currently located in one of the VanMoof repair stores in the Netherlands, can be picked up by the riders.
The administrators are currently assessing the best way to organise these collections
Anyone seeking a refund of a prepayment made for a new e-bike will be able to file a claim in the bankruptcy proceeding.
A support document with FAQs and information has been issued to keep people updated on the situation.