Hero MotoCorp co-owned Erik Buell Racing files for bankruptcy

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, ...

Continue Reading...

Updated Date: May 03, 2015 19:16 PM

Also Watch

Social Media Star: India’s top lifestyle bloggers share their trade secrets on the latest episode
  • Friday, July 27, 2018 First Day First Showsha — Reviewing Tom Cruise's Mission: Impossible - Fallout in 10 questions
  • Friday, August 10, 2018 It's a Wrap: Fanney Khan stars Anil Kapoor, Rajkummar Rao, Pihu Sand in conversation with Parul Sharma
  • Wednesday, August 15, 2018 Partition's real cost: Sonam Kalra revisits accounts of separation, loss in a spellbinding performance
  • Monday, August 13, 2018 Asian Games 2018: How Indian women's hockey team moved on from heartbreak at London World Cup