Over 200,000 VanMoof e-bikes have been sold over the past 14 years, but today the owners of the €2000+ bikes received sad news: VanMoof is broke.
Last week, rumours started flying when the brand requested a deferral of payment. As a result, owners began listing the bikes for sale online in droves.
Now, in an internal message to employees, the founders thanked hundreds of employees for their commitment but said they had failed to turn the tide, reports the NOS.
The company had previously raised almost $182 million USD, naming itself “the most funded e-bike company in the world.”
Plagued by problems
The Mercedes of e-bikes found themselves in deep waters when many of their bikes began to show defects. The brands’ Peace of Mind services meant they were plagued by requests for warranty repairs and servicing.
The company had also designed parts of the bikes themselves, making it difficult to source alternative parts.
In recent weeks, repair company Kwikfit stepped in to assist with repairs. Now, the director of e-mobility at Kwikfit, Pieter Bikker, says that they might not be able to receive new parts.
These repairs have also not been covered by Van Moof’s warranty or contracts since the deferral of payment last week.
A new beginning?
However, this might not be the end of Van Moof. In the statement, the company suggested that a restart of the company was possible.
“The bankruptcy of the Dutch VanMoof entities was needed — despite all your efforts and hard work to prevent this — as there simply is not enough cash flow to meet the current liabilities,” said the statement.
“By placing the Dutch companies into bankruptcy, it becomes more likely that a restart of the VanMoof business can be accomplished.”
But what about the current owners?
For owners of the bikes, well, it remains to be seen if the warranty and service agreements will be taken over.
Meanwhile, for those who purchased the bikes and were waiting on delivery — well, that sucks. It’s unclear at this stage what will happen for outstanding orders, but some Redditors suggest investigating chargeback options through your payment provider.
Have you been affected by the VanMoof bankruptcy? Tell us your story in the comments below!