Update, August 2: Earlier today VanMoof emailed customers to confirm that the company was being put into liquidation. The message, signed by The VanMoof team, says that the company understands that “these are uncertain times” for its customers, adding that the team is “working out the best way forward” with regard to the e-bikes locked…
VanMoof has been declared insolvent. According to the latest report by The Verge, the court in Amsterdam has withdrawn the so-called suspension of payments order and said the e-bike brand is bankrupt in what appears a rather abrupt manner. The news comes only days after the first reports of VanMoof facing severe difficulties appeared. Insolvency…
A combination of multiple shocks—chief among them the COVID-19 pandemic and increased interest rates—has left over 50 lower- and middle-income countries in “debt distress,” according to the UN: struggling to repay money borrowed to fund vital projects, or to import food and other essentials. If debt repayments become impossible, a government typically has to “declare…
The company, known for the Groundies shoe brand, has filed for insolvency proceedings with the Freiburg District Court with the aim of restructuring itself to get back “on solid ground” The court has appointed lawyer Dr Dirk Pehl from the law firm Schultze & Braun as the preliminary insolvency administrator. This procedure’s aim is to…
Permanent residents of Peninsula Eco Villas and Beach Huts were told last Thursday the manufactured homes park in Capel Sound, Morning Peninsula, was closing next month after the owner RC 1 was declared insolvent in March. The 28 villa owners were… Published May…
Unable to overcome the challenges posed by the COVID-19 pandemic and the energy crisis, the German HR group filed for insolvency, following the path of its previously-owned footwear retailer, Reno The footwear retail group has applied for insolvency proceedings for nine companies at the district court in Osnabrück. Though triggered by Reno’s insolvency filing last…
After the shoe retailer Reno filed for bankruptcy in Germany at the end of March, the company’s Austrian subsidiary, HR Group GesmbH, decided as well to file for bankruptcy Bankruptcy proceedings were applied at the regional court in Wiener Neustadt, as talks with investors have failed to date to secure a refinancing plan. The company…
Saddled with $10 million in debt and with only 41 students currently enrolled, the San Francisco Art Institute has declared Chapter 7 bankruptcy, and the school appears to be liquidating all assets and calling it quits. We’ve been hearing stories for a while that the 152-year-old San Francisco Art Institute might only survive another…
Whenever a hard rain fell on Harlan County, Kentucky, the mud, rocks and debris from the Foresters No. 25 mine pounded down the hillside into the community of Wallins Creek. Local residents repeatedly complained about washed-out culverts and mud in their yards. Time after time, county work crews came out after a heavy rain to…
Since 2020 insolvency activity in Spain slowed down because of the moratorium declared by the Spanish government in the wake of Covid-19, under which the obligation to file for insolvency was suspended until 30 June 2022. Perhaps unsurprisingly, official statistics for the third quarter of 2022 showed a dramatic increase in the insolvency declarations within…