22 May 2024 – We regret to inform you that we, Pierre and Jeroen, founders of LOQED, were forced to file for bankruptcy today. This decision comes after a difficult period. Through this email, we want to inform you about the implications and the next steps.
Existing locks will remain online, and new locks can still be installed. This is made possible by the LOQED Online Foundation, which has taken over the management of the platform. In consultation with the trustee, we will explore how the platform can continue in the long term. Additionally, it will be discussed whether the software can be offered as open source.
We will remain available for your questions in the coming weeks. However, since LOQED ceases to exist, we cannot continue to provide the usual support and warranty. Together with the trustee, we will investigate alternative ways to offer support and warranty. You can also turn to forums, where many well-informed users help each other with questions.
We would like to remind you once again that it is possible to set up an access code if you have not done so already. With this code, you will always be able to open the door, even when the connection to the Bridge is (temporarily) offline.
Over the past three years, the LOQED Touch Smart Lock has become one of the most popular smart locks in the Benelux. It has also gained popularity in Germany and England over the past year. Unfortunately, the market for high-end smart locks has turned out to be smaller than we had estimated, and it has not grown quickly enough to sustain the company.
Initially, our strategy was to develop various accessories and two smart locks for both the lower and higher segments after the release of the Touch. Due to disappointing sales results, we have had to postpone these developments repeatedly. As a result, we could not establish the broad base across different segments that we had envisioned.
Together with our team, we have worked on LOQED for over eight years. It was a beautiful but also stressful period with high peaks and low lows, in which we endured the corona crisis and chip shortages, among other challenges. Now that the future of LOQED is uncertain, our first priority is to work with the trustee to secure the continuity of the platform so that you can continue to use the LOQED locks.
We are very grateful to everyone who has supported and believed in us. Thanks to you – investors, distributors, stores, locksmiths, and all over ten thousand customers – we have been able to bring a product to market that opens doors over a million times a month. Thank you for all the tips, compliments, and complaints that we have received, which have helped us make the lock a little better every day.
It greatly saddens us that we have to end the journey we have made with you so suddenly, and we apologize for the impact this has on you. We will keep you informed of developments.
Best regards,
Pierre & Jeroen
Founders
I purchased the product from LOQED less than 30 days ago. Can I still return it?
Although it is legally allowed to return the product within 30 days, it is very unlikely that the purchase amount can be refunded. We therefore advise against sending the products back to us.
I purchased my product from LOQED more than 30 days ago. Can I still return it?
It is not possible to return products purchased more than 30 days ago.
My lock is defective or I have a question. Where can I go?
We will try to continue providing parts for as long as possible, but it is currently unclear how long we can continue to do so. If you have a defect at the moment, we advise you to contact us as soon as possible via the chat in the app. We will investigate with the trustee whether the warranty can be transferred to another party afterwards.
How can I stay informed about the bankruptcy proceedings?
We will keep you informed of the bankruptcy proceedings via email.
What happens to my personal data?
Your personal data will be handled by the trustee in accordance with applicable privacy laws. You can delete the data of your account and keys if desired via this link.
