FUELL E-Bike FILES CHAPTER 7 BANKRUPCY

[SacJack]

Fuell start-up company with investors who bought in via Indiegogo campaign platform file formal Chapter 7 bankruptcy protection.

Eric Buell has lost all credibility, respect and trustworthiness with his visionary start-up company, developing the next generation and future of urban & commuter e-bikes with their Flluid bike lines.

At least (550) of we investor "backers" have no recourse to the $4,200.00 US$ investment we bought in to, in good faith, for this start-up company's visionary e-bike.

Fuell still has their web page active, caveat emptor to those of you enticed to consider this absolutely disappointing and questionably fraudulent start-up company.

Shame on you Eric Buell, you have lost my respect!

 

[VelocityBike]

That's terrible news for all the backers who invested. Definitely a cautionary tale for anyone considering crowdfunding.

 

[arcom]

Webbikeworld recently reported "FUELL is currently attempting to restructure itself into some semblance of consolidation by filing for Chapter 7 bankruptcy proceedings." I don't buy a word of that. Chapter 7 is a liquidation process, while Chapter 11 is a reorganization process.

Still, the bankruptcy attorney for Buell wrote a "to all concerned" letter indicating Buell is seeking an Investment Angel. Note that since Harley Davidson dumped the Buell brand, Eric Buell's biggest startups have gone bye-bye through bankruptcy.