Let's just say Vectrix has filed for bankruptcy one time for each wheel on its battery-electric scooters. This time, though, it's Chapter 7, Boston Business Journal reports, citing bankruptcy court filings. Since that usually involves liquidation, it's safe to say that the company's number is finally up.
The company was founded in 1996 and appeared to be getting some traction (as well as a fair amount of coverage) about a decade later. That's because, in mid-2007, Vectrix started selling its electric maxi-scooter in Europe and, later in the year, word came that the New York Police Department would start giving Vectrix scooters a trial run sometime in 2008. That year, the electric scooter was used as a pace-setter at the Boston Marathon, heavy stuff for a Massachusetts-based startup.
Still, the company filed for Chapter 11 in 2009, citing the recession-spurred financing crunch and the inability for potential consumers to get loans for scooter purchases. The company reorganized and by 2011 was unveiling its VX-2 urban-commuter scooter, which had a top speed of 30 miles per hour and a single-charge range of as far as 55 miles. Too bad the company didn't have enough charge to go any further.