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[SBB]

Erik Buell closes the door.

http://m.jsonline.com/business/erik-buell-racing-closes-files-for-receivership-b99481936z1-299863281.html

I have always like the Buell line of bikes.

SBB

[kiro]

Makes me wonder how this will impact the value of bikes produced during the H-D years and the Buell's manufactured since the 2009 split. It's always poor to see a company fail...

[Chains]

Saw the article this morning. Great engineer, super bikes, hate to see him go.  Did not known49% was owned by a company in India.

[Puzzled]

Thursday, 16 April 2015
   
Erik Buell Racing

Erik Buell Racing (EBR) runs out of money

ERIK Buell Racing, the East Troy, Wisconsin based motorcycle manufacturing business that Erik Buell established after Harley closed Buell Motorcycles is 2009, has itself "ceased operations" according to reports in the Milwaukee Journal Sentinel.
Those reports say that the company has more than $20 million in outstanding liabilities and that it has placed itself in receivership with a state court ultimately to decide the outcome of a filing process that will see bids made for the remaining assets of the business.
Erik Buell Racing (EBR) closes leaving 126 employees out of work, and a big question mark over what, if anything, Erik Buell will be able to do next.
In addition to Buell's own money, EBR had received $25 million in 2013 in exchange for a 49.2 percent ownership stake from India's Hero MotoCorp, the world's largest motorcycle/PTW manufacturer in unit terms.
The news has industry observers questioning the viability of Hero MotoCorp as what was described at the time as a "strategic partner" for such an ambitious project.


 
Unveiled in 2014, the 1190SX 'Superfighter' as EBR were terming it demonstrated the flexibility of the 1190 platform and the direction that EBR wanted to take



Following the launch of its 1190RS race bike in 2011, Buell used the Hero investment to fund development of the 1190RX production model, unveiled in 2013, and the 1190SX streetfighter styled 'Superfighter' that was unveiled last year.
Recent reports suggest that the company was also working on another new model, believed to be an adventure tourer designated 1190AX, but production at the East Troy EBR factory was, in theory, only part of the equation.
Buell and the impressive line up of engineers that he had hired were contributing to development of new Hero models including the HX250R that is expected to be among the initial offers if Hero MotoCorp follows through on its November 2014 Milan show announcement to and start selling in selected European markets later this year.
EBR's ambitions have also included the creation of its own race team, the establishment of its own European subsidiary, based in the Netherlands, and pursuit of a number of other future-facing projects including a 400hp gas-electric motorcycle engine that Buell is reported as having patented recently.
In a statement cited by the Milwaukee Journal Sentinel, 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.
"To say this setback is a disappointment does not begin to express what I feel right now. I am personally grateful for the support of our outstanding workers, customers and vendors. While this is a sad ending, I personally hope for a new and better beginning."


 Posted by  DealerWorld     at  08:02

[D-N-D]

Not Good hate to see Buell go !!!

[jamnflhxse2]

Sad! I thought and hoped they were going to be successful!

[skycat]

EBR/BUELL shut down, BUGGER
I like his bikes but now maybe just to much of a problem to own as a bike to be ridden. Looks like its just another collectible to be looked at BUGGER..

Running in the world supper bikes is what i recon killed them. Why cant the Government bail them out like they did Ford, Chrysler and GM  BUGGER

[Harley Guy]

I agree, this is a disappointment.
.
Peoples jobs will be lost and lives impacted. If this was MoCo doing it, many web members would be all over the loss of jobs, etc. with hateful postings.  Why is there not the same outpouring/posting.  Do we have two sets of rules?  Just asking.
.
RIDE ON.....

[VaEagle]

Just my .02 about questions on government bailouts and no larger public outcry over lost jobs etc...
Look at the reality of auto industry over a small bike company.......if auto industry fails not only thousands of jobs lost on assembly line but in part manufacturing and supply, trucking and rail distribution, sales and more. Also cars/trucks used by vast majority every day. Most auto companies been around a long time and have political influence to keep them afloat. What kind of major impact to the economy will a relatively new company with only 129 employees like Buell have and what kind of political influence?
On the public outcry thing we kind of do it to ourselves many times when we don't speak up for others because we are so divided. If we don't own or use a particular brand or style of product such as a sport bike or import we just don't care because "that's the other guy's problem" . Did you see much except on the Honda forums complaints over Honda moving Goldwing production out of Ohio and back to Japan? I'm sure there are many more examples of good products only used by a few people that have died out or gone to overseas production over the years.

[lowflight]

A shame to see them close.

I am not a supporter of Govt bail outs. Either a private company makes it or not. Private Company's shouldn't get our tax money to keep them afloat.