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Dutch Multicycle Declared Bankrupt

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ULFT, the Netherlands – Dutch bike maker Multicycle has been declared bankrupt by the Court in Zutphen. The bankruptcy concerns Multicycle Inventures Group BV and the four subsidiaries of that holding company. It means that the 65 employees of Multicycle lose their jobs.

Dutch Multicycle Declared Bankrupt
Multicycle has been declared bankrupt. – Photo Multicycle

The law firm JPR lawyers in Doetinchem, the Netherlands is handling Multicycle’s bankruptcy proceedings and this firm’s   Mr. J.C.A Herstel is appointed by the Zutphen Court as administrator.

 Request by Multicycle

On questions by Bike Europe the law firm said that Multicycle requested for a suspension of payments last Wednesday November 9. Two days later, the bankruptcy has already been ruled on the holding company Multicycle Inventures Group BV and its four subsidiaries including the Multicycle bicycle factory.

Candidates for restart

On the chance for a restart of Multicycle the law firm only wanted to say that there are candidates for this. How many candidates there are and who they are the law firm did not want to reveal.

Also the law firm handling the Multicycle proceedings did not want to say anything on the causes for the bankruptcy of the bike maker.

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