Erik Buell Racing (EBR) Motorcycles to Shut Down For the Second Time in Two Years
EBR Motorcycles has said winding up of all operations will begin starting next week.
2017 EBR 1190 RX (Image: EBR Racing)
American sports bike manufacturer Erik Buell Racing (EBR) Motorcycles recently announced it will be shutting down. After many cases of bankruptcy, this is the second time the company went bust in the past two years.
The company has said winding up of all operations will begin starting next week, and that warranties will remain valid and it will provide service and spares to its customers and dealerships.
Erik Buell Racing was also once bought by American manufacturer Harley-Davidson, which later separated. Hero MotoCorp too had bought 49.2 per cent stake in EBR Motorcycles for $25 million back in 2013. The company was briefly revived with a strengthened R&D department.
EBR had also announced that it would sell Hero motorcycles and scooters in North America. Buell developed and launched two new motorcycles - Buell 1190RX - a full faired sports bike and its street-fighter derivative - the 1190SX, in a span of two years.
Although the motorcycles were well appreciated for their performance, the two could could generate a steady market for the company and it eventually was forced to shut down.
Amid rumours of Hero taking over EBR, the Indian bike manufacturer paid $2.8 million (Rs 17.8 crore) for Buell's consulting business. The remaining of EBR's sahres and assets sold for over $2 million (Rs 12.7 crore) in December 2015 to Liquid Asset Partners, a private liquidation company specialising in breaking-up company remnants in another auction.
EBR was back in business in March 2016 as Liquid Asset Partners found it a buyer experienced in motorcycle manufacturing. A motorcycle did roll of the production line - a limited edition "Stars and Stripes" themed 1190RX. However, not being able to create a stable market for itself, the American motorcycle manufacturer is finally closing for good.
Recommended For You
- OnePlus 6 Review: The Amitabh Bachchan of Flagship Smartphones
- Things Meghan Markle Can't Do After Marrying Prince Harry
- Women's IPL: Lukewarm Response Overshadows Supernovas' Thrilling Victory
- BCCI vs CoA: Battle Heats Up as Officials Accuse Committee of Obstructing Lodha Reforms
- Mowgli Trailer Gives a Glimpse of Darker, More Dangerous Version of The Jungle Book