Major cycle maker files for bankruptcy with shops around the world closing & orders scrapped – see if you’re affected

A MAJOR electric cycling company has declared bankruptcy and cancelled orders in a shock closure.

VanMoof has over 190,000 customers worldwide and announced the shock closure this week.

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The company saw sales soar during the pandemic thanks to their bike's sleek design with a battery built into the metal frame.

Now the Dutch based company has shut its stores and reportedly cancelled online orders.

VanMoof bikes have price tags beginning around £2,000, having raised more than £98million from investors to expand their operations.

Reports of long delivery times and a shortage of parts for the high end bikes were widely reported before the shutdown.

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In an email to staff, VanMoof founders and brothers Taco and Ties Carlier explained that despite their efforts, the company could not be saved.

They wrote: "Over the last weeks Ties and I have tried to find a future for VanMoof.

"We started VanMoof 14 years ago with a crazy idea to change the world. The only reason that we were able to make a dent is because of you: the hundreds of dedicated and loyal people that have helped us with our mission to change cities for the better.

"We’re grateful to each and every one of you and are sorry that we will not be able to see this mission through together."

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VanMoof said the stores outside of the Netherlands are expected to keep "running as usual", despite the London and Paris stores already shuttering their doors.

Customers who already bought bikes from the company can expect "ongoing services for the future".

A spokesperson for VanMoof told the BBC: "The trustees are continuing to assess the situation at VanMoof and are investigating the possibilities of a re-start out of bankruptcy by means of an asset sale to a third party, so that the activities of VanMoof can be continued."

VanMoof bike owners are urged to download their bike's unique "digital key" in case servers go down.

Earlier this year, an "optical illusion" cycling lane was blasted by locals for being dangerous.

The chaos has led to a staggering 59 injuries in just one year - with 21 demanding personal injury compensation from Bristol council.