VMS Automotive (Eezon) according to judicial sources, submitted a voluntary bankruptcy request on August 19. This request was finally approved by the Commercial Court number 3 of Pontevedra, based in Vigo, on September 23. This decision responds to the company’s need to find a viable solution to its economic difficulties. As usually happens with this type of procedures.
Although the liquidation of the company has not been carried out to date, a bankruptcy administrator has already been appointed in charge of managing the process and exploring different alternatives for the survival of the firm. The bankruptcy administrator has the task of evaluating the viability of VMS Automotive and propose possible ways to revive the company or, failing that, direct an orderly liquidation if necessary.
What happened to VMS Automotive?
According to the information provided by our colleagues, VMS Automotive recorded significant losses, exceeding 5 million euros, during the year 2023. The company, which was founded in 2016, launched its main product, Eezonan innovative three-wheeled electric motorcycle that, at the time, was widely received.
Thanks to this model, the company managed to obtain a contract with Mail for the delivery of 100 units, which seemed to promise significant growth for the brand.
Despite these initial achievements, the current financial situation has led to VMS Automotive to resort to bankruptcy proceedings. In this context, the company hopes that the appointment of a bankruptcy administrator will make it possible to find alternatives that can reverse the situation or, at least, facilitate an orderly closure if a viable solution is not found.
From here, all our support to its workers and other people involved in this new business fiasco.
