Renowned motorcycle manufacturer KTM teeters on the brink of bankruptcy due to mounting debts.
KTM has not disclosed detailed information, only sharing that filing for bankruptcy protection will enable them to adapt to markets and maintain their leading position in the motorcycle industry.
KTM’s parent company, Pierer Mobility AG, stated that KTM requires significant funding, which the parent company is unable to provide. Hence, KTM has filed for bankruptcy protection, buying them time to negotiate with creditors.
Earlier in mid-November, Pierer Mobility AG announced that KTM might halt production at its Mattighofen plant (Austria) for two months to reduce inventory.
The temporary closure of the Austrian plant will impact approximately 1,000 employees. Prior to this, the motorcycle manufacturer had laid off around 300 people after reducing their working hours.
The global economic crisis has taken a toll on Europe’s economy. KTM is not alone in this struggle, as numerous other companies have declared bankruptcy in 2024.
TH (Tuoitrethudo)
Illustrative image: Internet
The Ultimate Desert Showdown: Unveiling the Mystery Behind the Abandoned Mercedes-Benz and Maybach Fleet
Recently, a series of images circulated on social media showcased a fleet of luxurious Mercedes-Benz and Maybach vehicles, once symbols of opulence and prestige, now fallen into a state of disrepair. Neglected and abandoned, these cars were left to the mercy of the elements, with dust and weather taking their toll on the once-pristine interiors and exteriors.
Recaro Racing Seat Manufacturer Files for Bankruptcy: Over 200 Employees Left Jobless
The renowned German sports seat manufacturer, Recaro, has recently filed for bankruptcy. This unexpected turn of events has sent shockwaves through the automotive industry, leaving many wondering about the future of this iconic brand. With a rich history spanning decades, Recaro has built a reputation for crafting high-performance seats that offer unparalleled comfort and support for drivers and enthusiasts alike. As the company navigates through these challenging times, the automotive world awaits with bated breath, hoping for a resurgence that will see Recaro rise again as a powerhouse in automotive comfort and design.
The Chinese Electric Car Brand Teetering on the Brink of Bankruptcy: Staff Unpaid, Stagnant Sales
This electric car brand is facing a significant and worrying decline in sales, with a mere 196 cars sold last May. The situation is further exacerbated by the ongoing issue of unpaid wages, causing fear and uncertainty among its employees.
KTM 1290 Super Duke RR 2023 – The Ultimate Racing Machine Limited to 500 Units
KTM has just launched the 2023 edition of the KTM 1290 Super Duke RR, following the tremendous success of its predecessor in 2021. This new model is a limited edition, with only 500 units available for production.
KTM 1290 Super Duke RR 2023 – The Exquisite Racing Beast Limited to 500 Units
Following the success of the 2021 KTM 1290 Super Duke RR model, KTM has introduced the KTM 1290 Super Duke RR 2023 edition with a limited production run of 500 units.
