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Erik Buell Racing closes, files for receivership
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Erik Buell Racing closes, files for receivership - April 15, 2015, 01:38 PM

Erik Buell Racing closes, files for receivership


Erik Buell Racing, an East Troy motorcycle manufacturer previously owned by Harley-Davidson Inc., has ceased operations.
The company, with 126 employees, also is filing for court protection from creditors, Buell said Wednesday.
Erik Buell Racing is the sequel to Buell Motorcycle Co., which was owned by Harley-Davidson Inc. for more than a decade before Harley dropped the brand in 2009.
Initially, the new company produced hand-built $40,000 sport bikes for road-racing enthusiasts. More recently, it geared up to build a mass-production motorcycle that sells for about $19,000 but has a similar racing pedigree.
Company founder Erik Buell invested his own money into the new venture, followed by backing from Hero MotoCorp., the largest motorcycle manufacturer in India.
The company had been doing well on the racing circuit but struggled financially.
"The turn we recently took, after we thought we were moving forward, was unexpected. 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," Buell said in a statement.
The company is closed for now, Buell said, and is seeking protection under a state statute which is similar to federal bankruptcy law. Attorney Michael S. Polsky will be the court appointed receiver at the company's request. Bids will be solicited for the company as part of the Chapter 128 process, with the winning bid to be determined by the court.
"To say this setback is a disappointment does not begin to express what I feel right now. I am personally grateful for the support of our outstanding workers, customers and vendors. While this is a sad ending, I personally hope for a new and better beginning," Buell said.


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April 15, 2015, 02:03 PM

da fuck again?
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April 15, 2015, 02:22 PM

Quote:
The company had been doing well on the racing circuit ...

Really? Where?


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April 15, 2015, 02:33 PM

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April 15, 2015, 03:23 PM

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Originally Posted by CrazyMotorcycleGuy View Post
Really? Where?

I was thinking the same thing.

To the best of my knowledge an EBR has only gained one point in wsbk / ama.
that was Leguna last year I think with LP in as a wild card for wsbk.
earned a 15 (1 point).

I assume this is why LP is racing WSBK.


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April 15, 2015, 03:24 PM

The guy has to be the worst businessman ever.
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April 15, 2015, 03:27 PM

I felt they should have made a bike more affordable for the common rider....
$19,000 is higher than the top knotch bikes.

if they could afford to...a $9,999 bike would have got some momentum I feel..


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April 15, 2015, 03:29 PM

Exactly. Also, remember his first try was a $40k bike.
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April 15, 2015, 03:34 PM

When HERO invested, I was sure they would produce some bikes...maybe for the Asian market. They can produce the bike far cheaper and build an asian base of buyers.

Im sure they know what they are doing...def more than me, but it's hard to enter the Ultra superbike market higher than the comp and slower than most bikes half its size.

I hope he comes back with something completely different.
maybe a I4 or V4 1000....


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April 15, 2015, 04:11 PM

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Originally Posted by t84a View Post
Exactly. Also, remember his first try was a $40k bike.
John Britton he's not.
Surprised a Chinese company didn't try to swoop in. They seem to be interested in buying up "brands" lately.



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April 15, 2015, 04:21 PM

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Im sure they know what they are doing...def more than me, but it's hard to enter the Ultra superbike market higher than the comp and slower than most bikes half its size.
I'm honestly not sure Erik Buell knew what he was doing. Like you said, if you're coming in with a bike priced at Ducati levels you have to make a very good looking bike, and something that is on par performance-wise. The 1190RX wasn't ugly per se, but it wasn't pretty enough to sell just on its looks.

WSBK success would've helped but realistically if a Buell couldn't win AMASBK races without help from the rules they're sure as hell not going to do well in WSBK.

I think to succeed with a motorcycle company you have to have irrational self belief, but you also need to keep it in check and temper your enthusiasm and confidence with reality. Reality is that Buell's brand, styling, and performance weren't good enough to sell bikes at those prices.


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April 15, 2015, 04:40 PM

Win on Sunday, sell on Monday. Not, "make vain attempts on Sunday and try to sell on Monday."


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April 15, 2015, 05:23 PM

i dont want to sound like a hater.....


but shit I saw the writing on the wall....
I was just hoping that they made a clean sheet design....something completely different vs. those harley modified designs...

when i watched wsbk...both bikes constantly broke down...
not as much in ama..but shit...those where the only bikes breaking down most times...

smh


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April 15, 2015, 06:15 PM

Wasn't the writing on the wall in 2007?


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April 15, 2015, 07:20 PM

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Originally Posted by yzl337 View Post
Wasn't the writing on the wall in 2007?
yeah...



I was hoping that the new bike was sorta a steeping stone...then something truly amazing was soon to come.

This bike looks good (not $19k good but thats to the eye of the beholder)...the numbers are great....but just did not seem like it matched up in real world...



chicks dig it....

is it me or do that look sprung stiff as hell...check the chain...with two chicks on it...not sagging at all...looks just the opposit..







You have $20,000 gift from your late uncle Fester to blow on an exotic Hyper Sportbike....


who do you choose?









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