Possible VanMoof restart turning into a race against the clock, administrator says

The administrators handling VanMoof’s bankruptcy are still negotiating a possible restart for the electric bike maker. They’re still talking to a few interested parties and hope to know which candidate has the best credentials after the weekend, Jan Padberg, one of the two bankruptcy administrators involved, told RTL Nieuws. It’s turning into a bit of a race against the clock, he added.

The current negotiations are “about the last outstanding points that are important to them,” Padberg said. He expects the final bidding round to happen before the weekend and to report the news early next week. “That’s the schedule I have in my head,” he said, adding that it’s not set in stone.

Time is starting to run out. Because while VanMoof’s American and Taiwanese companies are not bankrupt, they “are also struggling.” The further a company falls apart, the more difficult a restart becomes, Padberg explained. “Then we can only sell in bits in pieces.” The biggest problem is that staff are leaving. “People run away. They will make other plans as long as it remains uncertain.”

Padberg would not say which parties are involved in the negotiations.

The American company Trek is not in the running, marketing manager Cor van Leeuwen of Trek Benelux told RTL. “No, the brand does not fit with what we do,” he said.

Taiwanese bicycle manufacturer Giant told Bright earlier this week that it is also not part of the talks.