Helmet manufacturer Lazer, which has been making motorcycle helmets from Mont-Saint-Guibert in Walloon Brabant since 1919, has admitted that it filed for bankruptcy at sometime in June, announced Clicpublic- the company charged with liquidating Lazer's assets.
The company, which employs nine people, did not survive the Covid-19 pandemic and the economic repercussions, company CEO and main shareholder Alexander de Vos van Steenwijk told Belgian newspaper L’Écho on 27 July.
The company was declared bankrupt on 13 June by the Nivelles company court. Before going bust, it had undergone several significant reorganisations as it attempted to compete in a competitive market. By the end of 2020, the company’s losses reached €34 million.
- Confidence in the Belgian economy still low among business leaders
- Over 1,000 companies went bankrupt in June, highest figure for Flanders since 2013
The company had attempted to use a judicial reorganisation procedure to recapitalise the company during difficult times. The brand was the oldest helmet manufacturer in the world. Unfortunately, the company was unable to find investors to keep the Lazer name alive.
Production of the helmets had taken place in China and Vietnam and then sold via distribution to Europe and the rest of the world.
More than 500 assets belonging to the company are now being publicly auctioned online, including large lots of motorcycle helmets and office equipment. The income raised by these auctions will be redistributed to the company’s numerous creditors.
Lazer Sport, which split from the Lazer company in 2009, continues to make bicycle helmets.