E-bike manufacturer Stella now officially bankrupt

This article was last updated on November 8, 2024

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E-bike manufacturer Stella now officially bankrupt

The Dutch e-bike manufacturer Stella is officially bankrupt. The curator announced this on Stella’s website. The company already asked last Tuesday deferment of payment On. The ailing bicycle builder from Nunspeet has been making losses for a long time.

In total, around 440 people work at almost 50 locations in the Netherlands and Belgium. According to the curator, all employees have been informed of the bankruptcy. All physical stores have been closed since Tuesday and will remain so for the time being.

People who have brought their bicycle to a Stella store for repairs will receive a message from the curator before November 15. About a thousand customers are said to have made a down payment for a new Stella bicycle. It is not yet clear what the bankruptcy will mean for them. Stella previously stated that it wanted to accommodate customers.

Takeover

According to the curator, several takeover candidates are interested in Stella, but a takeover could not be achieved in the short term. In the near future, the curator will discuss with the interested parties whether a takeover is possible.

The company has already suffered a loss of 13 million euros in the past two years. Since last year, Stella has been owned by investment company DM Equity Partners (DMEP), which invested 13.4 million euros. The company did not want to invest any more money in the bicycle repair shop and therefore Stella could no longer pay the bills.

Several electric bicycle manufacturers have recently gone bankrupt. At the end of last year, the bicycle makers VanMoof and Qwic collapsed. The latter brand eventually made a new start and VanMoof was acquired.