Vectrix files for Chapter 7 bankruptcy

Publish Date: 
Apr 8, 2014

NEW BEDFORD, Mass. - Electric scooter company Vectrix has filed for Chapter 7 bankruptcy, which usually involves liquidation.

Employees reportedly were sent home and the business was shuttered in mid-December.

In documents filed with the U.S. Bankruptcy Court, the company listed its assets as being between $1 million and $10 million and its estimated liabilities as between $10 million to $50 million.

The company filed for bankruptcy under Chapter 11 in 2009 to reorganize, which included selling most of its assets, and emerged for a relaunch at Dealer Expo in 2010.

The company had its headquarters in New Bedford, a sales office in California and a manufacturing facility in Poland.

Posted by Holly Wagner