With the innovative bike maker at the mercy of its bank late last year, shareholders came to the rescue but the necessary new money could not be found.
Last August, Ubco announced a deal to supply 175 bikes to Australia Post.
Lenders to electric bike maker Ubco, led by investor and former National Party president Peter Goodfellow, called in receivers less than three months after registering their security interest over its assets, company filings show.
Receivers David Ruscoe and Stephen Keen of Grant Thornton took
Want to read more? It's easy.
Choose your best value subscription option
Student
Exclusive offer for uni students studying at a New Zealand university (valued at $499).
