Reports have emerged that Italian motorcycle manufacturer Benelli has been declared bankrupt by the Italian court in Pesaro over a 120,000 euro (RM535,600) debt. The matter arose after Benelli failed to pay suspension maker WP Performance the amount owed for the supply of suspension components.
As a result, it has been reported that some completed motorcycles from Benellis inventory had been seized by a court trustee as collateral to ensure payment of the debt. Benelli is currently appealing the decision with the Court of Appeal in Ancona.
Qianjiang Group, owners of the Benelli brand, were quick to issue a statement that its motorcycle brand was financially sound. It said there were ample financial resources to repay the d…
Read the full article at: http://paultan.org/2016/07/27/benelli-italy-declared-bankrupt-by-italian-court/