EBR "Buell" Closes Doors
Wednesday, April 15, 2015
The Milwaukee Sentinal web site reported about an hour ago that Erik Buell Racing, formerly known as "Buell" motorcycles, has closed and the company has started the paperwork in order to turn itself into receivership.
Buell is quoted as saying:
"The turn we recently took, after we thought we were moving forward, was unexpected. We thought we had secured funding, but in the end, we were not able to get the funding in place. Therefore we need to do the best we can under the circumstances for all parties in interest," Buell said in a statement.
The Journal web site : The company is closed for now, Buell said, and is seeking protection under a state statute which is similar to federal bankruptcy law. Attorney Michael S. Polsky will be the court appointed receiver at the company's request. Bids will be solicited for the company as part of the Chapter 128 process, with the winning bid to be determined by the court.
Source: http://http://www.superbikeplanet.co...150415bule.htm
I wonder what this does to Hero's plans.
Wednesday, April 15, 2015
The Milwaukee Sentinal web site reported about an hour ago that Erik Buell Racing, formerly known as "Buell" motorcycles, has closed and the company has started the paperwork in order to turn itself into receivership.
Buell is quoted as saying:
"The turn we recently took, after we thought we were moving forward, was unexpected. We thought we had secured funding, but in the end, we were not able to get the funding in place. Therefore we need to do the best we can under the circumstances for all parties in interest," Buell said in a statement.
The Journal web site : The company is closed for now, Buell said, and is seeking protection under a state statute which is similar to federal bankruptcy law. Attorney Michael S. Polsky will be the court appointed receiver at the company's request. Bids will be solicited for the company as part of the Chapter 128 process, with the winning bid to be determined by the court.
Source: http://http://www.superbikeplanet.co...150415bule.htm
I wonder what this does to Hero's plans.