Dancer Bus, known for its innovative transparent, wind-powered buses and a lightweight electric bus unveiled at Busworld 2023, has declared bankruptcy. The company faced significant challenges due to the pandemic and took a 1.8 million euro loan from NuCapital in 2022, using its factory as collateral. Founder Alvydas Naujekas attributed the bankruptcy to NuCapital, which countered by stating its efforts were focused on recovering the loaned capital. The bankruptcy announcement follows a long period marked by a lack of new products and orders.
After more than a year of fighting in the courts to settle our liabilities, we must recognize the victory of our opponents and initiate the bankruptcy proceedings of the Dancer Group.
The pandemic hit Dancer Bus hard, and a key step came in 2022, when the company turned to the investment fund NuCapital for a 1.8 million euro loan; a loan granted until July 2025.
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