E-bike Company VanMoof Seeks Protection from Creditors

VanMoof, an Amsterdam-based e-bike maker, has filed for legal protection to address its debt and restructure.
The company has temporarily closed its brand stores and suspended bike servicing and orders.
VanMoof saw rapid growth during the pandemic but is now unable to pay its bills.
The court order allows VanMoof time to seek new investment and avoid bankruptcy.
If VanMoof fails to find a solution, it may have to file for bankruptcy, rendering its technologically integrated bikes unusable.