Moto Morini Denies Factory Closure
Added on Wednesday, December 9th, 2009 by Carole Nash Editor | No Comments
Moto Morini Denies Factory Closure
Troubled motorcycle manufacturer Moto Morini have denied that they have closed their doors, although they have admitted that production has slowed in an attempt to clear a backlog of unsold stock.
Reports in Italy claimed that Moto Morini had ceased production yesterday, raising speculation that financial pressures had finally got the better of the Bologna based manufacturer.
But the company has rubbished those suggestions, claiming that the factory was closed for a public holiday on Tuesday (Immacolata Concezione) and that employees had been given an additional day off on Wednesday.
“At present Moto Morini is only producing bikes to order while they clear a backlog of machines in stock,” claimed a company spokesperson. “They remain optimistic about the future.”
The manufacturer recently entered into voluntary liquidation after experiencing cash-flow problems, using a loophole in Italian insolvency regulations to avoid paying creditors whilst still trading as a going concern.
Some 1,200 units were sold last year by Moto Morini, which is still up for sale, way below the speculated 2,000 break-even point.
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