EBR Closes / Bankruptcy

[williegoat]

The EBR website is displaying the default page for an unconfigured Apache.

 

[stamen]

Sounds similar to what happened with Brammo and Polaris if anyone followed that one, also a recent event.

 

[RyanExtra]

Maybe some one will buy them. Sounds like Hero pulled out completely.

 

[rchuff]

It's to sad to talk about. [sad][sad][sad]

 

[Gloomshadow]

this is a hostile take-over. it has to be. Pawan Munjal will buy the other half of EBR during the auctions and he would have total control, and the rights to the 1190... and the dealership network.. then the HX250 and Hastur come to the US with EBR badges on the tank. Hero has the money, they had a record breaking quarter last quarter.. looks like Munjal didn't get to where he is by playing Mr Nice Guy. Then he hires Buell back as a chief of engineering of certain products and Munjal owns everything. OR.. everything just becomes "HERO".. Im tellin ya, this is "gangsta shit"

 

[burgandy25]

this is a hostile take-over. it has to be. Pawan Munjal will buy the other half of EBR during the auctions and he would have total control, and the rights to the 1190... and the dealership network.. then the HX250 and Hastur come to the US with EBR badges on the tank. Hero has the money, they had a record breaking quarter last quarter..  looks like Munjal didn't get to where he is by playing Mr Nice Guy.   Then he hires Buell back as a chief of engineering of certain products and  Munjal owns everything. OR.. everything just becomes "HERO".. Im tellin ya, this is "gangsta shit"

Gloom- I thought I read elsewhere that Hero pulled out completely? This left EBR high and dry and then lead to this? Either way I hope that you are correct and Hero steps in but from the proceedings it sounds like everything is going to auction.

 

[stamen]

gloom I think your spot on, sadly (def. gagnsta shit lol).. But there's still one important thing left in the puzzle. I don't think Erik just wants to just suck it up and get hired as a Chief Engineer and be told what to do. Hoping someone steps in and helps (hopefully someone with a lot of money doesn't want control of his company). BTW here's some more background info on Hero, the article gives some good background on the company. After reading it things are starting to make sense. What do you think? http://www.gizmag.com/hero-honda-battle-buell/30727/

 

[BuellyBagger]

Not to minimize the gravity of this whole deal, but now what will I do if my ebr em craps out. In the case Hero isn't just taking over and they end up liquidating the company. Or any of the rest of you that have invested a lot more than $350 in ebr parts and the few of you that bought those sweet bikes. Poo

 

[burgandy25]

Yeah I think we would all like to see Hero buy them outright if it means keeping his bikes/engineering out here. Even rebranded as a Hero it would give the "name" of a bigger brand since Hero is such a large global presence, even though we have not have Hero here in the U.S. Fiat is a big name and has been years since its been on our shores, maybe the Hero name/brand can get large in bike sales here.

 

[generalcuz]

I already struggle to find parts for my 1125cr at times. Just got it back last night from a fork overhaul. Had to wait three weeks for it. I would love to buy an SX or RX amidst what will most likely be an onslaught of dealer fire sales, however finding parts for something so rare when it goes south could be a death blow. The original MSRP was too rich for me but man it's tempting for a price closer to $10k. Still, the parts issue, especially with the induction system. Didn't someone already have problems with theirs and sell it?

Really sad to see this whole thing go down. I have been riding my 1125cr for four years and love it. She is a good little beast but pricey to maintain nonetheless.

 

[Cosworth]

Eh a little googling can find the parts. Fork seals for the 1125 can be had for 20 bucks tyd.

 

[wolfo68]

I think the issue was that Hero wanted to buy controlling stake and Erik said no so they left and are forcing his hand through legal means.

I could see Hero buying it and rebranding the whole thing.

 

[stamen]

I wonder how much the company is worth.

 

[djs2k2]

A trillion dollars!!!!

 

[RossLH]

On the bright side, my bike made the front page.

 

[Mope]

He certainly sounds like there's already a plan in place "I personally hope for a new and better beginning". Remember the Buell closure video? It was awful. This doesn't have the same feeling, does it?

A parting thought on Wisconsin receivership......"A major reason lenders and purchasers of troubled companies use Chapter 128 is that the statute and case law expressly allow the receiver to “pass to the purchaser good title, free and clear of all liens.” The sale orders are similar to those issued in Bankruptcy Court and reassure the purchaser that it will not be burdened by the debtor’s past problems."

 

[Cooter]

Hmm. I wonder if we could split the cost. Whats 25 millions divided by BuellXB.com members?? Add BadWeb and just pitch in a few hundred thousand a piece

 

[Mwstevenson]

The turn we recently took, after we thought we were moving forward, was unexpected,” Buell said in a statement. “We thought we had secured funding, but in the end, we were not able to get the funding in place. Therefore we need to do the best we can under the circumstances for all parties in interest.”
So this is a bit of the article in Cycle World, do you think the funding he is referring to is Hero? If it is then WTF, the race team has been running a couple of seasons now with Hero plastered all over their stuff, how could they back out now?

 

[s0dhi]

I tend to agree with some of you that have suggested the Hero is going after the whole thing. Erik may not have wanted to give up control initially when the deal was struck. Hero probably backed off providing that Erik meet certain milestones (sales figures, Hero introduction to US market, etc.) When Erik did not meet those milestones, Hero pulled their backing. Now Hero is in a position to take the whole operation, if they desire.

I still want an 1190RX. I wouldn't hesitate picking up a Hero 1190RX when/if they do hit the Canadian market.

 

[jetlee]

Hmm. I wonder if we could split the cost. Whats 25 millions divided by BuellXB.com members?? Add BadWeb and just pitch in a few hundred thousand a piece

It's actually quite interesting how this math panned out.

There are 20,490 BXB members. Add in some guys from BadWeb and BRO to bring that number to 21,000. Then $25M/21k= $1190/ea