Huge sign of the times for the struggling motorcycle industry.
"Chapter 11 for Brands
To restructure their debt, many of the Motorcycle Aftermarket Group's are filing for relief under Chapter 11, Title 11 of the US Code – better known as Chapter 11 bankruptcy.
The companies filing for Chapter 11 are the following: Renthal Americas, Tucker Rocky, Performance Machines (which includes Roland Sands Design), Vance & Hines, J&P Cycles, Velocity Holdings Company, Velocity Pooling Vehicle, DFR Acquisition, Ed Tucker Distributor, Kuryakyn, MAG Creative Group, MAGNET Force, Motorcycle Superstore, Motorcycle USA, Motorcycle Aftermarket Group, Mustang Seats/Motorcycle Products, Ralco Holdings, and Rally Holdings.
By having these companies file for protection under Chapter 11, the new owners will be able to more rapidly turnaround the company’s overall business, and return to profitability."
The MAG Creative Group is also parent to Answer Racing, Malcolm Smith Racing, Bike Master, Progressive Suspension, Pro Taper, First Gear, Speed & Strength, and Biker's Choice.... among others.
Many of these companies are heavily involved in the cruiser and dirt bike markets. Both are declining markets evidenced by the demise of Victory Motorcycles and Suzuki Motocross Racing.
Kinda scary. We use a couple of these companies often, like First Gear, Motorcycle Superstore and Tucker Rocky. Tucker Rocky is a major player in the distribution of aftermarket items to the DFW area motorcycle shops. Especially tires!
http://www.roadracingworld.com/news...-bankruptcy-to-eliminate-300-million-in-debt/
Maybe I'd better start saving for that driverless electric car!
SS
"Chapter 11 for Brands
To restructure their debt, many of the Motorcycle Aftermarket Group's are filing for relief under Chapter 11, Title 11 of the US Code – better known as Chapter 11 bankruptcy.
The companies filing for Chapter 11 are the following: Renthal Americas, Tucker Rocky, Performance Machines (which includes Roland Sands Design), Vance & Hines, J&P Cycles, Velocity Holdings Company, Velocity Pooling Vehicle, DFR Acquisition, Ed Tucker Distributor, Kuryakyn, MAG Creative Group, MAGNET Force, Motorcycle Superstore, Motorcycle USA, Motorcycle Aftermarket Group, Mustang Seats/Motorcycle Products, Ralco Holdings, and Rally Holdings.
By having these companies file for protection under Chapter 11, the new owners will be able to more rapidly turnaround the company’s overall business, and return to profitability."
The MAG Creative Group is also parent to Answer Racing, Malcolm Smith Racing, Bike Master, Progressive Suspension, Pro Taper, First Gear, Speed & Strength, and Biker's Choice.... among others.
Many of these companies are heavily involved in the cruiser and dirt bike markets. Both are declining markets evidenced by the demise of Victory Motorcycles and Suzuki Motocross Racing.
Kinda scary. We use a couple of these companies often, like First Gear, Motorcycle Superstore and Tucker Rocky. Tucker Rocky is a major player in the distribution of aftermarket items to the DFW area motorcycle shops. Especially tires!
http://www.roadracingworld.com/news...-bankruptcy-to-eliminate-300-million-in-debt/
Maybe I'd better start saving for that driverless electric car!
SS
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