Another Dutch e-bike maker bankrupt: ‘Battle in the bike sector’

What do the names VanMoof, Qwic, Stella Fietsen and Huyser have in common? These are the four main Dutch bike manufacturers who could initially cope with the demand, but they dropped out last year. Van Moof and Qwic have made a new start, discussions about a new start for Stella are still ongoing.

It is unclear whether a restart is possible after Huyser’s bankruptcy on Tuesday. Amos Kroll, who was appointed curator, could not be reached today and Huyser himself did not answer questions.

A disappointing question

According to a trade website Bike news The disappointing market demand affected Huyser after the corona crisis. Problems between a supplier from China and the assembly company they appointed in Slovakia also played a role.

Just like Van Moof, Huyser designed bicycles himself. After the bankruptcy of Van Moof, great problems arose for consumers because all kinds of parts were no longer available. That won’t be too bad now, Jan-Martin Parent thinks. He is the owner of Peter Smit Tweewielers.

Stella restart possible

Yesterday it was announced that 35 parties are interested in Stella Fietsen’s resume. According to curator Frans van Oss, tours will be given next week at the Stella factory in Nunspeet for people interested in the restart. The application process must then begin. “We’ll see what comes of this. But the beginning is hopeful,” said Van Oss.

Bikes designed by a bike shop owner

The bicycle shop in Maassluis was the first in the Netherlands to sell Huyser bicycles, which were designed and manufactured by the owner of the shop at the time, Peter Smit.

Two years ago, Smit left the business, which still bears his name. He wanted to focus on the bicycle brand, which is now available at 200 dealers. Probably not much longer. “We are going to remove the Huyser Fietsen brand from our range,” says Parent. Maintenance is still possible.

Making parts with a 3d printer

“The break is still new, so everything needs to be clear. But most of the bikes were not made specifically for Huyser. And for the parts where this was the case, we are already trying to see if we can make them with 3D – to be able to simulate printing,” says the shop owner.

Customers may not be so inconvenienced by this, but it is still strange that another Dutch bike brand is falling apart. And this is not the last, thinks Olaf Zwijnenburg, manager of the retail and wholesale department at Rabobank. “There is quite a battleground in the bike sector at the moment and we fear that the boredom, especially at European level, is not over yet.”

Lots of stock, little demand

During the corona crisis, Dutch people spent the money they could not spend on vacations or buying bicycles, among other things. Demand was up, but due to supply problems, all bike manufacturers had to scramble for stock, says Zwijnenburg. The shelves were empty and the delivery times were long. Transportation also became much more expensive.

Many bicycle companies maintain bicycles and spare parts, but maintaining stock always costs companies a lot of money. “If the demand for bicycles subsequently falls or is much lower than expected, as a brand or manufacturer you have large stocks left,” Zwijnenburg explains.

The deposited money cannot be used for anything else. To solve that, you have to sell it. And that often happens with concessions, says Zwijnenburg.

A turbulent time

So demand falls in conjunction with a saturated market leading to financial problems and numerous bankruptcies. The companies themselves can’t do much about this, according to Zwijnenburg.

“Even profitable companies can go bankrupt if they can’t meet their short-term obligations,” he said. “Overall, the bicycle industry is in a very turbulent time, with many companies ‘struggle to adapt to changing market conditions and financial challenges.’

When VanMoof went bankrupt, customers were still allowed to pick up the bike – without repairs: