Hero MotoCorp co-owned American motorcycle manufacturer Erik Buell Racing (EBR) has declared bankruptcy. The sudden turn of events has left all of its 126 employees without a job.
The company owes an amount of $20 million to creditors and is seeking court protection. EBR was formed after Harley-Davidson dropped Buell Motorcycle Co. back in 2009.
The company’s founder, Erik Buell had invested his own money into the company. Hero MotoCorp had bought a 49.2 per cent stake in Erik Buell Racing in 2013. Apart from infusing life into the company, Hero sought to gain the technical expertise of EBR. The upcoming Hero HX 250R is reportedly a result of the technical collaboration with EBR. The new Hero Karizma ZMR, in fact, has a similar rear end design as the EBR 1190 RX.
Erik Buell said , “The turn we recently took, ...
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Updated Date: May 03, 2015 19:16:14 IST