The Dutch e-bike manufacturer Stella Fietsen was officially declared bankrupt today. The curator will continue to discuss a possible restart with several parties.
The deferral of payment that Stella received earlier this week has been converted into bankruptcy today. According to the curator Frans van Os, a takeover by another party based on the deferment of payment was no longer realistic. According to the curator, about ten companies reported interest in a possible restart.
A similar scenario as with VanMoof and QWIC is therefore still possible for Stella. Those two Dutch e-bike manufacturers also went bankrupt last year, but have now restarted under new owners.
The curator will be talking to ‘some interested parties’ in the near future to see whether a restart for Stella has a chance of success. The takeover candidates have not yet been identified.
Customers have to wait
Stella’s stores and service points will remain closed for the time being. For people who have made a down payment for an e-bike, or have returned their bicycle for repairs, they will have to wait and see. These people will hear more from the curator by next Friday at the latest. He is still consulting with both Stella owner DM Equity Partners (DMEP) and the bank about the possibilities. But because of the bankruptcy, this is legally quite difficult.
Stella Fietsen is one of the largest e-bike brands in the Netherlands after market leader Gazelle, but the company suffered millions of euros in losses last year. Due to the disappointing demand for electric bicycles and fierce competition in the e-bike market, the Nunspeet company was left with large inventories. A total of 440 people work at Stella, which has almost 50 locations in the Netherlands and Belgium.
Accell also almost went bankrupt
More e-bike manufacturers are experiencing financial problems. The largest bicycle company in the Netherlands, Accell, was also on the verge of collapse earlier this year. Accell, the parent company of brands such as Sparta, Batavus, Babboe and Koga, managed to keep its head above water through an additional capital injection and a major reorganization.
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Source: www.bright.nl
