Electric motorcycle manufacturer Vectrix looks to be in financial dire straits yet again, and is reportedly looking for either a buyer, or possible merger in order to bail itself out of the deadpool.
In January of 2008, Visordown broke the news that the battery-powered motorcycle manufacturer was in serious financial trouble, with around $50 million of debt. Now it looks like Vectrix will be reducing its workforce by 60 workers to get more lean and mean. Even after reducing costs by laying-off employees, the firm will still need a cash infusion if it is going to stay afloat. While green tech is hot right now in private equity firms, a company like Vectrix is going to have a hard time getting funded with this bad of a history of burning cash. They’re only hope might be a merger into another firm that has stronger management team, and that can find value in the work Vectrix has already accomplished.