Vectrix Lays Off Workers, Bankruptcy Looms

MIDDLETOWN, R.I. (AP) -- A manufacturer of high-end, electric scooters and motorcycles has laid off nearly all its employees and will file for bankruptcy within 30 days unless it finds new investors or a buyer.

Michael Boyle, president of Middletown, R.I.-based Vectrix Corp. tells The Providence Journal that the company had trouble finding new dealers and potential customers had trouble getting financing under current economic conditions.

Boyle says the company, which once had about 200 employees, laid off 20 people this week and moved a handful of executives to a satellite facility in New Bedford, Mass.

He said Vectrix had sold about 2,000 units and customer enthusiasm was high, but the company never turned a profit.

More in Supply Chain