Another bicycle manufacturer files for bankruptcy in the Netherlands

Another well-known Dutch cycling manufacturer has filed for bankruptcy. Cargoroo, who sold electric shared cargo bikes, declared bankruptcy at the court in Amsterdam on Tuesday. It was reported last week that the e-bike brand Amslod was the last company to file for bankruptcy.

The court in Amsterdam will declare Cargoroo bankrupt this week, Utrecht alderman Senna Maatoug (Mobility) expects. Bikes made by Cargoroo have been taken off the streets in Utrecht and cannot be booked anymore, she wrote in a letter to the municipal council.

The bikes have also been taken away in other cities like Nijmegen and The Hague, Maatoug wrote. She also reported that Utrecht wants to ensure that the shared bicycles can return quickly and will work with other municipalities to help make this happen.

According to the company's website, they are also active in other cities including Rotterdam, Arnhem, Eindhoven, and Berlin. Cargoroo reported on their website that bicycles are available, with no mention of the bankruptcy application. Co-founder Jaron Borensztajn said that he would provide more information later today.

Cycling brand Amslod reported last week on Facebook that they have stopped sales of electric bicycles immediately “in connection with financial difficulties as a result of difficult market circumstances.” Amslod’s website has been taken down.

This comes after the e-bike brand Stella Fietsen was declared bankrupt last month. That brand is making a fresh start in a slimmed-down form. Bankruptcy administrator Frans van Oss said that the money issues at Stella Fietsen were caused by a change in the market for electric bikes after the Coronavirus pandemic.