NEWS HUB
VanMoof declared bankrupt, administrators consider selling assets
DUTCH e-bike brand VanMoof has been declared bankrupt. The company said in a statement that a judge at the Amsterdam District Court had declared Dutch entities VanMoof Global Holding BV, VanMoof BV and Van Moof Global Support BV bankrupt on Tuesday, July 17. Administrators are now in the process of assessing the situation and the possibility of a restart. This includes exploring a sales process for the assets and activities of VanMoof to a third party so the company can continue operations. Legal entities outside the Netherlands are not currently involved in the insolvency proceedings. The brand’s intention is
to keep these entities running as usual. The decision on VanMoof’s bankruptcy came sooner than expected after the brand filed for Chapter 11 status to protect it from creditors. This led to the court ordering a two-month cooling down period to allow administrators to assess the situation in order to find a solution so that VanMoof could continue its activities.
Despite this, the administrators have seen no other option than to declare the brand bankrupt. A support document with FAQs and information has been issued on VanMoof’s website to keep people updated on the situation.
L Catterton sells its stake in Pinarello to ‘private family office’
L CATTERTON has announced that it has sold its stake in Pinarello to a private family office. The investment firm, which is partially owned
by LVMH, has maintained a controlling stake since purchasing the brand in 2016. Details of the transaction were not disclosed, although reports surfaced recently that mining billionaire Ivan Glasenberg was in discussions to buy an 80% share in the Italian brand.
Fausto Pinarello will retain an interest in the company while
keeping his role as chairman. Fausto Pinarello said: “Over the past seven years with L
Apex to distribute VHS Slapper Tape
APEX has announced a new distribution partnership with VHS Slapper Tape.
VHS is a small independent company based out of Queenstown, New Zealand and their goal is to provide riders with the quietest bike possible. A spokesperson for Apex said: “We have been watching VHS build into the leading chainstay protection and noise management tape and we are stoked to be able offer the products to our dealers.” VHS Slapper 2.0 comes in seven different colours: black, white, orange, green, red, blue, and purple and is available immediately from Apex.
10 | August 2023
Catterton’s partnership and capabilities, we have built on our best-in-class R&D capabilities, bolstered by collaborations with the industry’s top riders and organisations, creating a product set that remains consistently at the forefront of innovation. We have also achieved record
revenues and are now poised for our next era of growth. “I am very excited to continue the momentum that we have achieved, and this transaction will allow us to further elevate our company as the international leader in the high-end bike sector through ever-increasing investments in R&D focused on making industry-changing innovations around materials and products.”
Extra UK and Cyclex to supply Chamois Butt’r in the UK and Ireland
EXTRA UK has announced an exclusive distribution agreement with Chamois Butt’r, the anti chafe chamois cream, in the UK and Ireland via Extra’s Irish subsidiary Cyclex.
The American brand uses a non-greasy formula and
natural ingredients which are designed to not damage or discolour technical clothing or leave residue. Chamois Butt’r specialises in cycling skincare, with a
range of products created to offer improved comfort and soothe already irritated or chafed skin. Product is available in stock now and ready to ship from Extra UK and Cyclex.
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