The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture For Transport Equipment Manufacture Of Other Transport Equipment 30.92 - Manufacture Of Bicycles And Invalid Carriages
400 jobs Number of planned job losses
Announcement Date
8 November 2024
Employment effect (start)
8 November 2024
Foreseen end date
31 December 2024
Description
Stella, a Dutch manufacturer of electric bikes with its headquarters in Nunspeet, has announced bankruptcy. It also has locations in Belgium. As a consequence of the bankruptcy, 400 out of the 400 jobs in the Netherlands are cut. The main reason for the bankruptcy is that Stella has a debt that is worth millions. The debt is caused by several factors: less customers, higher costs for manufacturing and more competitors. Furthermore, Stella received a fine of 5 million for wrong tax returns. All units will be affected by the decision to cut 400 jobs.
Eurofound (2024), Stella, Bankruptcy in Netherlands, factsheet number 201915, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201915.
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