EBR Motorcycles is set for another go at this liquidation thing, with its owners Liquid Asset Partners having put the company and its assets on the auctioning block once again.
Loyal readers will remember that Liquid Asset Partners bought Erik Buell Racing last year, with public plans to restart the brand. That activity never really moved beyond assembling a few motorcycles that were still languishing on the production line, while LAP looked for other investors in the company.
Now confirming what we long expected to be the final outcome, Liquid Asset Partners is chopping up EBR Motorcycles once again – looking to sell the brand’s remaining assets, including the brand itself.
This looks like the end of the road for motorcycle manufacturer Gas Gas, as the Spanish brand entered into liquidation today, after its bankruptcy proceedings failed to find the €30 million necessary to pay the company’s creditors.
The news is timely, as today interested parties in owning Erik Buell Racing (or parts of it) will be placing their bids on the similarly wayward company.
Back in Spain though, the news is troubling for Gas Gas fans, as the company’s assets will be liquidated, with the hope of raising enough money to pay-off the company’s creditors.
Don’t get too excited Moto Morini fans, the Italian brand isn’t making a comeback from the dead as of yet. However Piero Aicardi, Moto Morini’s receiver (the person in charge of handling the company’s affairs during the liquidation/bankruptcy process), wants to re-open the Bologna factory to assemble 45 bikes that are apparently sitting in parts at the factory.
With 16 Scamblers and 29 Granpasso’s capable of being built, Aicardi foresees that Moto Morini could open temporarily to build the 45 bikes, which would sell for €6,300 – €7,100 ($8,500 – $9,600), and use the proceeds to pay off some of Moto Morini’s debts.
UPDATE: Moto Morini’s liquidator has now announced that all the available units have been sold.
As the dust continues to settle around Moto Morini, the Italian marque sees an expiration date looming in its future. Pushing its final days into September of this year, as the company looks for a new potential buyer, assets of this motorcycling misadventure continue to be sold. While many were upset at Moto Morini closing its doors, the good news is that the company has an ample stock of bikes, which it is now selling for severely discounted prices.
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.