bankruptcy Articles
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02 October 2019
News
Shady business practices could save Vectrix
Vectrix Corporation, the financially troubled manufacturer of electric scooters, has declared chapter 11 bankruptcy and has agreed to sell the majority of its assets, free of debt, to a new company, appropriately called "New Vectrix LLC." The move comes after the company cut the majority of its workforce and failed to secure major investment or a government loan or bailout. Vectrix is said to be c...
28 September 2009
News
Rumors of Moto Morini's demise have been greatly exaggerated
This morning, Italian motorcycle manufacturer Moto Morini entered voluntary liquidation. That may sound terribly dramatic, but, in the bizarre world of Italian business, is merely a means of protecting a company from unpaid creditors while further investment is sought. The move came after Moto Morini failed to pay its 65 employees, who continue to work, for the month of September. Despite the lack...
24 September 2009
News
Harley earnings drop 91% for 2nd quarter 2009
Photo: Harley-Davidson ArchivesHarley-Davidson's earnings for the second quarter of 2009 are down 91% compared to the same period last year. Most of this is down to the obvious: with the market already saturated with identikit products and their ability to buy expensive, unnecessary lifestyle accessories with home equity loans vanished, baby boomers are no longer buying Harleys. But, The Motor Com...
16 July 2009
News
Motorcyclist Magazine publisher, Source Interlink files for bankruptcy
The publisher of Motorcyclist, Sport Rider, Dirt Rider and several other motorcycle magazines has filed for Chapter 11 bankruptcy. The news comes just one month after Cycle World was put on sale. Source Interlink, which is owned by shady billionaire Ron Burkle's Yucaipa Cos. publishes 75 magazines, mostly in the car and motorcycle enthusiast category, making it particularly vulnerable to the downt...
28 April 2009