New Owner for Bankrupted Dutch Multicycle
ULFT, the Netherlands – In an update on the bankruptcy of bicycle manufacturer Multicycle, the receivers’ law firm JPR lawyers reported to have found a new owner for the company.
Shortly after the bankruptcy last November as Bike Europe reported, JPR lawyers already reported to have found candidates for a take-over, but did not want to mention any names. JPR lawyers expects to be able to reveal the name of the new owner soon.
Take-over of all activities
“In the past two months we have been discussing the take-over of all Multicycle’s business activities with a number of interested parties,” reports JPR lawyers on its website. “With one of these parties we have reached an agreement which is subject to a number of conditions.” Unfortunately it is not mentioned in the statement which conditions are still part of the negotiations.
Production moving out of the Netherlands?
The bicycle factory of Multicycle was part of the bankruptcy which included all activities of the holding company Multicycle Inventures Group BV, as Bike Europe reported. Whether the bicycle factory in the town of Ulft will remain operational or not under the new ownership is still unclear. It is even unknown if this is one of the conditions for the take-over.
JPR lawyers stated that, “Once the take-over will be finalized (a part of) the activities in Ulft will be continued.” In case it would be only a part of the activities, it would not automatically have to include the production of bicycles.