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Thread: Vectrix bankruptcy again :(

              
   
   
  1. #1
    Senior Member Athlon's Avatar
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    Vectrix bankruptcy again :(

    from January 31 Vectrix is on sale to the best offer

  2. #2
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    Poor Vectrix. A great electric scooter hobbled (over and over) by a poor business plan.
    Richard - Current bikes: 2018 16.6 kWh Zero S, 2016 BMW R1200RS, 2011 Royal Enfield 500, 2009 BMW F650GS, 2005 Triumph T-100 Bonneville, 2002 Yamaha FZ1 (FZS1000N) and a 1978 Honda Kick 'N Go Senior.

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    Senior Member __Tango's Avatar
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    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.
    EVs: 2007 Zapino Scooter, Honda VF500 Conversion (electriceptor.wordpress.com), Red Nissan LEAF SL (Arrived!)

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    Senior Member robo's Avatar
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    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.

  6. #5
    Member scoot440's Avatar
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    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.
    Last edited by scoot440; 28 February 2014 at 0938. Reason: misspelling

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    Quote Originally Posted by __Tango View Post
    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

  8. #7
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    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/SelectA...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...wThumbNails=on

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    There'll be a few bargains to be had at that I'd say!

  10. #9
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    "obstacles suck but challenges are fun"

  11. #10
    Junior Member Robert Bell's Avatar
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    Its very nice about bankruptcy law ...... Hmmmm
    Last edited by Robert Bell; 06 November 2014 at 0954.
    Justice? You get justice in the next world, in this world you have the law.

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