https://techcrunch.com/2023/07/12/report-vanmoof-has-filed-for-bankruptcy-protection-in-holland/

Is VanMoof about to go poof? Earlier this week, we reported on how the Amsterdam-based e-bike startup, backed by hundreds of millions of dollars in venture funding, was facing a major crisis: a prolonged pause in sales; a barrage of angry customers demanding refunds for their bikes, or complaining about the lack of service on their broken bikes; the departures of key executives; and struggles to raise money to continue operating. Today comes the inevitable follow up: according to a report in the Dutch publication NRC, the company has applied to a local court for an official suspension of payment provision after running out of money.

To be clear, VanMoof is not officially bankrupt with this move: this is a particular scheme in the country that is designed to help a company try to avoid that. It effectively means that VanMoof cannot be forced to pay bills or other money owed, and that any money that it does pay out, and any financial moves it makes at this point (including raising money) will be required to go through court-appointed administrators for approval.