Shady business practices could save Vectrix

Vectrix Corporation, the financially troubled manufacturer of electric scooters, has declared chapter 11 bankruptcy and has agreed to sell the majority of its assets, free of debt, to a new company, appropriately called “New Vectrix LLC.” The move comes after the company cut the majority of its workforce and failed to secure major investment or a government loan or bailout. Vectrix is said to be continuing production of the VX-1 electric scooter at its facility in Poland during all this, but could not be reached for comment. A press release follows the jump, it kind of boggles the mind.  >

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