Italian manufacturer Moto Morini has entered into voluntary liquidation in an effort to get its business back on track. Voluntary liquidation is an Italian concocted form of quasi-bankruptcy, although we’re sure Italian businesses would be quick to point out the differences; however, the affect is essentially the same though, and the act will shield Moto Morini from the debts it owes its suppliers.
Moto Morini has been denying earlier reports that it hasn’t paid its 65 employees, although it admits it hasn’t paid its suppliers since last June. Despite this, Moto Morini has stated categorically that its own intention is to go straight ahead with all the company activities, and all actions to date have been made with this goal in mind.
The firm is expected to sell 1,200 motorcycles this year, up by nearly 15% over sales from last year. This is still a far cry though from the 2,500 motorcycles Moto Morini says it needs to sell in 2010 to break even. With production goals this far off from the break even point, we’re not sure how Moto Morini expects to stay afloat. Some have suggested the introduction of its new motorcycles will help fuel the growth, one such example being the recently spied Supermotard 1200.
Moto Morini is expected to being selling its Supermotard 1200 this January, with its world debut scheduled for this November at the EICMA motorcycle show in Milan, Italy. Time will tell if it does the trick.