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Moto Morini Saved From Bankruptcy? – Paolo Berlusconi Makes €2.9 Million Offer

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Quirky Italian motorcycle manufacturer Moto Morini has reportedly been saved from the chopping block by Paolo Berlusconi. If that names rings a bell, it should because Berlusconi is the brother to Italy’s Prime Minister, and owns Garelli scooters. The Italian businessman has also been recently linked to acquiring MV Agusta, which if both transactions go through could see Berlusconi owning the parts of a formidable Italian motorcycle company. Berlusconi has reportedly made a €2.9 million offer for Moto Morini which includes the company name, infrastructure, and rights to past and future product lines.

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Reports of Moto Morini’s Death Appear to Be Un-True

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After we posted yesterday that Moto Morini had shut down its production line, amid the Italian company’s financial problems, other publications began covering the company’s complete closure. This caught the folks at Moto Morini off-guard, who while on an extended day-off, insist they are still keeping the production line functioning, if admittedly at a significantly reduced capacity.

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Moto Morini Production Shuts Down

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UPDATE: Moto Morini has responded to other reports that the Italian company has shut its doors, and instead says its production line is at a greatly diminished capacity.

After going into receivership a few months ago, Moto Morini has found its financial stability withering away as time marches-on. With no end in sight for the company’s blight, Moto Morini has shutdown its production line, and will remain in that state until a new buyer or group of investors emerge and breath life back into the small Italian brand.

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Vectrix Motorcycles Files for Chapter 11 Bankruptcy

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Well, we saw it coming. Electric scooter manufacturer Vectrix Motorcycles has finally filed for Chapter 11 bankruptcy. For those that didn’t learn the intricacies of Chapter 11 filings from the recent reorganization of General Motors, Vectrix as we know it will be transfered to a new corporation (New Corp.), while the bad assets and debt of the company remain in old company (Old Corp.). In this case, New Corp. will take the form of “New Vectrix LLC” and the move will leave the brand with minimal debt obligations (at the detriment of its current creditors).

While a pretty standard announcement for a Chapter 11 filing, Vectrix isn’t out of the woods yet. This filing will give Vectrix the second chance it needs, but it does nothing to address the fundamental problems that caused the company to go bankrupt in the first place (much like GM you say??!).

Hopefully with proper management, this move will give Vectrix the second chance it needs to be successful. The Chapter 11 filing is at least a good sign for the company and creditors as a Chapter 7 filing would have meant both parties would have been S.O.L. Such is the miracle of the United States Bankruptcy Court. Press release after the jump.

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Moto Morini Enters Voluntary Liquidation

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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.

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Source Interlink Files for Bankruptcy – Motorcyclist Magazine and Others at Risk

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motorcyclist-magazine

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

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