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View Full Version : Vectrix bankruptcy again :(



Athlon
14 February 2014, 1057
from January 31 Vectrix is on sale to the best offer

Richard230
14 February 2014, 1617
Poor Vectrix. A great electric scooter hobbled (over and over) by a poor business plan. :confused:

__Tango
14 February 2014, 1708
I just want one of their dual-twist throttle/regen grips. I wonder if i can just rummage through their spares for one of those. :)

robo
28 February 2014, 0023
Thanks for that info Ted. That report obviously says GPB lost 11.8M this quarter vs a profit of 19.5M in the same quarter last year. Whoops.

It looks like Vectrix couldn't cover their liabilities and no new investors were willing to cover them either ("couldn't raise new capital"). GPB owned a bunch of Vectrix, so GPB was left holding the bag of their defaulting subsidiary...or at least left holding their percentage of that bag.

GPB basically covered those liabilities in some form (the "non-cash charge"). So, Vectrix's loss partly showed up as GPB's loss this quarter. GPB probably didn't like that...so no surprise Vectrix was shut down when the other investors bailed too.

No bankruptcy was officially declared if I read that correctly- outstanding obligations appear to have been addressed before the shutdown...at least from GPB's part of ownership.

scoot440
28 February 2014, 0937
I test rode a Vectrix VX-2 just before this story came to light, and I hate to see bankruptcy being Vectrix' fate again.

The VX-2 was great fun to ride and impressed me a great deal (in spite of having 48V of lead acid under the seat). I don't have a lot to compare it to, but it stacked up very favorably against the performance of my 2011 Zero XU. The Vectrix has a much lower top speed, but better acceleration and the advertised range is almost double that of the Zero, and it has/had a considerably lower MSRP. Having a low-cost urban commuter in their line-up seemed a very good idea and a step in the right direction.

Dammit.

Fab man
28 February 2014, 1009
I just want one of their dual-twist throttle/regen grips. I wonder if i can just rummage through their spares for one of those. :)

Something like item 15 on this:http://www.freeenergystore.com/evhubmotors.html

Warren
11 June 2014, 0652
Auction on the 18th. 70 lead acid scooters, 5 lithium scooters, pallets full of lithium cells and packs, Brusa chargers, bike lifts, battery testers, two big spools, one red, one black of 6 gauge cable, enough parts to build a fleet of bikes, a Honda 150, one two wheel and one three wheel Piaggio.

http://www.pesco.com/servlet/SelectAuction.do?auctionId=9256&path=/servlet/AuctionInfo.do

Saw one of these, with a security guard aboard, last week at a mall in San Diego. :-)

http://www.pesco.com/servlet/List.do?page=lotInfo&startLotId=1095&direction=next&showThumbNails=on

Spoonman
11 June 2014, 0734
There'll be a few bargains to be had at that I'd say!

Ken Will
18 June 2014, 1249
The auction was today.

5829
5830
5831
5832

Robert Bell
26 October 2014, 0627
Its very nice about bankruptcy law (http://www.labiaklaw.com/why-chapter-7-may-not-be-the-best-bankruptcy-chapter-for-you/) ...... Hmmmm