Electric motorbike distributor crashes into administration
An electric motorbike distributor that describes itself as being part of an “urban mobility revolution” has formally entered administration.
The move to appoint Kingsbridge Corporate Solutions comes after Newark-based Vmoto Distribution UK posted two notices of intention to appoint administrators (NOI) in just over a week in the second half of February.
The firm employs around around 14 people, according to its last available accounts.
Vmoto Distribution UK is a subsidiary of London-based GreenMo UK. It is the sole UK importer and distributor of Vmoto motorbikes and Super Soco electric scooters.
The Vmoto brand is based in Perth, Australia, while Super Soco is headquartered in Shanghai, China.
Accounts made up to the end of 2021 show the Nottinghamshire company was owed £1.3m by its debtors and in turn owed £468,000 to creditors.
