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 Buell, Gone Again
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gymnast
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4260 Posts
[Mentor]


Meridian, Idaho
USA

Harley-Davidson

Sportster Sport

Posted - 04/20/2015 :  10:19 AM                       Like
Facing a debt of US$20 million the company has filed for protection from its creditors under Chapter 128. A court-appointed attorney will oversee the ensuing bidding process that should result in the sale of EBR?s assets. All of its 126 employees have lost their jobs, including recently hired engineers from companies such as Yamaha, Boeing and General Motors.

It is unclear what has happened between EBR and partner, Hero MotoCorp of India. With an investment of $25 million in 2013 Hero acquired a 49.2 percent stake in Buell?s company and planned to introduce its models in the US market through EBR?s dealer network, with Europe earmarked as the next step. Erik Buell?s engineering know-how played a pivotal role in the development of the new models Hero needs in order to attract customers in western markets. The new HX250R production model and the prototype Hastur are prime examples of this synergy. ?Hero MotoCorp, with strong in-house R&D capabilities, remains confident that its future product line-up would not be affected despite EBR ceasing operations,? says the spartan statement from New Delhi, the only official word from the Indian side so far.

Initial reports blame the closure poor sales of EBR?s commercial models, the 1190 RX superbike and the 1190 SX streetfighter, yet it may not be game over for Erik Buell.

Read the rest at the link below.

http://www.gizmag.com/ebr-bankruptc...ce3-76713031
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