Over the last few weeks, we've heard rumblings around the internet that electric scooter maker Vectrix might not be on firm financial footing. The first signs of trouble became apparent last month as reports from the UK indicated that Vectrix "will not be able to publish its Report and Accounts for the year ended 30 September 2008 until, inter alia, the successful completion of a fund-raising exercise." That caused the London Stock Exchange to halt trading of the company's stock. The latest news from Vectrix sounds equally as discouraging.
On Tuesday, Vectrix announced that, while continuing to look for new funding, the company "will now begin to seek other strategic alternatives which could include a merger or sale of the business." Further, some 60 staff members appear to have been let go, and trading of Vectrix stock remains suspended.
We sent a note to Vectrix last week asking if they could shed any more light on the situation, but we've yet to hear back. Stay tuned.
[Source: Forbes]
On Tuesday, Vectrix announced that, while continuing to look for new funding, the company "will now begin to seek other strategic alternatives which could include a merger or sale of the business." Further, some 60 staff members appear to have been let go, and trading of Vectrix stock remains suspended.
We sent a note to Vectrix last week asking if they could shed any more light on the situation, but we've yet to hear back. Stay tuned.
[Source: Forbes]
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