News being broke by the Milwaukee Journal Sentinel says that Erik Buell Racing has ceased its operations. The East Troy company plans to also file for protection from creditors under Chapter 128 of Wisconsin’s bankruptcy code. Under Wisconsin law, EBR will be placed into receivership (the company will be run by attorney Michael S. Polsky), and ultimately bids will be made on purchasing the bankrupt company. If no bids are made, the company’s assets will be auctioned off, with the profits going to EBR’s creditors. Though a shock to the whole industry, as well as EBR dealers, the news is perhaps unsurprising given EBR’s lack of success both on the race track and on the dealership floor, the latter being the more important metric.