Electric scooter manufacturer Vectrix is set to file for bankruptcy in 30 days, after failing to find the cash infusion they need back in April. The move to Chapter 11 doesn’t surprise too many people close the company, citing both poor business practices and customer dissatisfaction as being reasons for the manufacturer’s demise.
Source Interlink, publisher of such motorcycle magazines as: Motorcyclist, Sport Rider, Dirt Rider, has filed for Chapter 11 bankruptcy. The company, which is owned by billionaire Ron Burkle’s Yucaipa Cos., is expected to privatize after the bankruptcy, with debtors losing nearly $1 billion in outstanding loans.
It’s expected that heavy restructuring and cost cutting will now take place within the company’s publications, but it’s too early to determine which, if any, titles will be closed or sold.
On the potential chopping block is the following motorcycle titles: ATV Rider, Baggers, Dirt Rider, Hot Bike, Motorcycle Cruiser, Motorcyclist, Sport Rider, Street Chopper, & Super Street Bike