Dutch e-bike maker VanMoof has been declared bankrupt by an Amsterdam court,

 

Dutch e-bike maker VanMoof has been declared bankrupt by an Amsterdam court, which has appointed trustees to oversee a possible asset sale.  VanMoof, known for its high-tech and sleek battery-powered bicycles, previously raised 100 million euros ($113M) for an international expansion as demand surged during the pandemic. The bankruptcy applies only to VanMoof's Dutch entities, while its international units are not affected. Founded in 2009, the company has faced financial difficulties, with higher costs for selling and servicing its bikes. VanMoof told employees it's unable to pay salaries long-term, and provided a six-week notice period for work and final payments. Meanwhile, VanMoof had to close stores last week due to dissatisfied customers trying to return faulty bikes before the company's closure. Amsterdam police received complaints from customers who cited "theft" due to undelivered bikes or bikes left for repairs at closed VanMoof stores.