Fat bike manufacturing company Doppio declared bankrupt

Urban Mobility, the company behind the fat bikes of the Doppio brand, was declared bankrupt on Tuesday by the court in Amsterdam. This is evident from a letter from CEO and founder Peter Eiselin to shareholders, which RTL Z previously reported on. According to Eiselin, the main cause of the bankruptcy is insurers' decision to no longer provide coverage for fat bikes.

Due to the loss of coverage, a significant section of the urban mobility market dropped. "This resulted in lease companies no longer offering Doppio products," Eiselin explained in the letter that ANP also obtained.

Last year, the insurance branches of ANWB and Univé, among others, indicated that the risk of fat bikes being stolen is so great that they cannot be insured.

After discussing the matter with the most significant shareholders and people involved with Urban Mobility, the decision was made to declare bankruptcy. The 2023 annual report, which was filed with the Chamber of Commerce in September, already shows that financiers were no longer interested in investing extra money in the company, which had negative equity of around 900,000 euros. A source close to the company says that all orders for Doppio fat bikes have been delivered to customers.

Eiselin also wrote that the "continuous negative publicity surrounding fat bikes and the stream of illegally imported and souped-up models" were obstacles to bicycle sales. The negative publicity that Eiselin is referring to includes the dangerous driving behaviors of young people on electric bikes with fat tires.

A significant parliament majority is pushing for stricter rules on specific fat bikes, including a minimum age of 14 and mandatory helmet wear. Minister Barry Madlener (Infrastructure and Water Management) warned that the distinction between fat bikes and e-bikes is difficult to make legally.