VanMoof had a debt of 144 million euros in bankruptcy | Economy

Aug 23, 2023 at 12:23 PM Update: 5 minutes ago

When VanMoof went bankrupt last month, the bicycle manufacturer had a debt of 143.8 million euros. This is confirmed by curator Jan Padberg after reporting by the FD. The debt is considerably higher than the annual turnover, which in 2021 amounted to approximately 80 million euros.

In brief

VanMoof had a debt of 143.8 million euros at the time of bankruptcy. The debt is higher than the annual turnover of 80 million euros. Curator hopes for a restart, interest unknown.

The company owes more than half of the 144 million to capital providers. The Dutch tax authorities also have about 12 million euros in credit from the Amsterdam company.

VanMoof went bankrupt last month. The debt mountain had become so high that owners Ties and Taco Carlier saw no other way out and filed for bankruptcy.

One of the problems is that the electric bicycles often break down. In addition, the company used many unique parts. As a result, the bicycles could be made almost exclusively at the VanMoof stores. The repair costs were therefore high.

With a loss of 78 million euros on a turnover of 83 million, the company already plunged into the red in 2021. Last year’s result was not disclosed, but the loss is likely to have been about the same as the year before.

Curator hopes for a restart

The curator hopes that VanMoof can make a restart. Padberg has already had several conversations about this in recent weeks.

Interested parties had until today to register, the FD writes. It is not clear how much interest there is.

Earlier it came out that the American micromobility.com was interested in a restart. But the trustee rejected that offer.

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