Skully on Friday finally acknowledged what has already been known in the motorcycling community: the company was going out of business. The news comes after a last-minute effort by the remaining management to secure a new round of funding.
With $15 million down the drain, work still to do before the Skully AR-1 would be ready to ship, and a growing group of disgruntled early adopters, Skully’s resurrection was not to be.
Instead in a letter to backers and customers, Skully announced that it would be filing for Chapter 7 bankruptcy, the bankruptcy procedure for companies that are going out of business. This news, of course, directly impacts the thousands of motorcyclists who were expecting to receive a Skully AR-1 helmet.