EBR Sale Scheduled

[Gloomshadow]

what makes people think that dealers will hold any confidence in the company now though, im not a dealer but if i was i would think twice about investing in stock with this history. Id say alot of dealerships will pull the pin on EBR unfortunately. Some will have had floor stock they cant move for the past few months, this Im sure would make them unhappy.

EBR seems to be under private ownership now, no corporate stock involved. They could just sell them the way Confederate sells motorcycles if they wanted to.

 

[1125RBlaster]

Man I love those Confederate bikes, awesome styling I think.

 

[Hughlysses]

Apparently the hearing is over. Short summary posted to Badweb:

The Courts approved:

- Hero settlement
- EBR sale

Mr. Belfer - self-labeled as a fan and admirer of Erik Buell's work - seems to be just what's needed for a re-birth, or actually, continuing endeavor.

I was pleasantly surprised by the lack of Hero objection!

 

[Hughlysses]

Confirmation:

http://www.jsonline.com/business/er...ny-for-225-million-b99551917z1-320916221.html

 

[Hughlysses]

What's especially funny is how Hero claimed (right after EBR went into receivership) that the loss of EBR wouldn't slow up development of their new models at all.

 

[djs2k2]

Huuuummmmmm?

 

[mriulvr]

So EBR was bought for $2.25 million and Hero paid $2.8 million for the Buell "consulting business" assets. Sounds like the buyers got a pretty good deal if they can things up make EBR productive long term, even with the debt owed by EBR. Do the new buyers have to cover the old debt as well?

 

[mrlogix]

taking into consideration that the entire company sold for $2.25M and that they got $2.8M from Hero just for the design consulting part, sounds like they made a good deal to get Hero out of the way. Like I said before, Erik learned a thing or two from the HD fiasco. I have a real good feeling about this. :eagerness:

 

[heagachongoose]

The buyers? No. Ebr, yes.

There is some liability there but not all.

I just want to know wtf was going on wit EBR fratenizing with Porsche and Mito.

Here is an article

http://m.jsonline.com/business/erik...ny-for-225-million-b99551917z1-320916221.html

 

[submax]

Another article on Motorcycle.com. All the news sounds very positive. Looking forward to hearing the official story from the new owner.

 

[Hughlysses]

Intertesting quote from Erik in the motorcycle.com article:

Reached via text this afternoon, Erik Buell said he is working with the new owner on “how to roll out the story.” Pressed for details, Buell said, “He’ll tell his story his way and in his time schedule. As it should be.”

He’s a bike guy, though?

“Yes,” texts Buell.

 

[thrstrmech]

any update to this, read that there was another auction on December 10th, this would be the final one? hope Hero didn't get S@#! from it...

 

[d_adams]

Currently, no solid info. Bruce did not win this time around, rumor has it it's either and individual liquidator or another group from India.

 

[thrstrmech]

dang it:down: looking for articles

 

[Hughlysses]

Cross-posting from Facebook and Badweb:

Ok guys, I have some info.

A liquidator, Liquid Assets (Bill Melvin - liquidator) was the buyer at $1.6m - they are keeping it quiet waiting for the Judge to approve the sale this Monday in court - they don't want to create opposition to the sale by having employees show up to oppose the liquidation of EBR.

Anyone & everyone can speak to the Judge in court - it is a public hearing - if 10 to 20 employees would show up and tell the Judge how this effects them personally it would make a difference to buy more time - especially since there are other buyers interested in keeping the company intact rather than breaking it up - there is no reason why EBR had to be taken to auction so quickly.

if the employees can show up and tell the Judge the impact of liquidation on them personally - then ask the Judge for more time to find a buyer that would keep EBR intact ... it would have a significant impact -- especially since the creditors that are owed money are NOT forcing a quick sale of EBR (since they are take a BIG loss on what they are owed).

So we can help this. There are people trying to work out a deal to keep it together, just need more time.

 

[williegoat]

This is the way the world ends
Not with a bang but a whimper.
- T.S.Eliot

 

[mrlogix]

HUH? Bruce bid 2.25 the first time. I would think that he would still have that amount to try again since the first time never closed. Did he post on book of faces that he was outbid?

 

[Hughlysses]

HUH? Bruce bid 2.25 the first time. I would think that he would still have that amount to try again since the first time never closed. Did he post on book of faces that he was outbid?

Yes, he posted this:

Two days ago, we had the winning bid. Last night at 5:45, a well-crafted bid from another buyer was circulated, which required us to surpass his bid by more than we had available in time to close. Despite our best efforts, we lost the auction, but EBR remains intact. Out of respect for the buyer, this is all I will say on the subject, as I am advised he will be issuing his own press release shortly.
Thank you all for your support and encouragement throughout this endeavor. It made all the hard work worth it.
Never quit.
Bruce

"EBR remains intact" does not seem to go along with it being sold to a liquidator.

 

[GregoXB]

RIP :down:

 

[d_adams]

Sale to the liquidator has been DENIED!