KTM, Europe’s largest motorcycle manufacturer, applied
The company is heavily in debt and "faces significant obstacles" on multiple fronts KTM is preparing for bankruptcy as they are saddled with hundreds of millions of dollars in debt and do not expect to be able to obtain interim financing in time to meet their obligations. On Friday, they will apply for self-administration, which will give them time to work with creditors. The exact outcome is unclear, but there has been talk of job cuts and production cuts. KTM has grown to become Europe's largest motorcycle manufacturer, but this is a hollow victory as the company is insolvent and they are preparing to launch a "self-administered legal restructuring process". The application is due on Friday and the company hopes to have all the work completed within 90 days. The company declined to reveal specifics, but said they "faced significant obstacles." They added that self-management would help them "adapt to a changing market" and secure their position as a global…
Ant Anstead and Jenson Button’s Radford Motors applied
A recent lawsuit claims two of Redford's founders have been using company funds for personal expenses go through Brad Anderson 12 hours ago Radford Motors, founded by Ant Anstead and Jenson Button, has filed for Chapter 11 bankruptcy protection due to legal and financial difficulties. The lawsuit alleges that Redford Motors mismanaged its funds and that the founder misused savings and personal expenses. The company insists Chapter 11 is simply a restructuring and claims the brand remains focused on future growth and investment. Niche car manufacturer founded by famous mechanic Ant Anstead wheeler dealer Jenson Button of Radford Motors fame and 2009 Formula 1 world champion has encountered some "difficulties" and filed for Chapter 11 bankruptcy in a Delaware court . Founded as an ambitious boutique firm, Redford's journey from nostalgia revival to legal entanglement is starting to look like a textbook case of high expectations colliding with financial reality. The company, launched in 2020, launched the redesigned Lotus Type…
BMW’s Neue Klasse design will be applied to all ICE models
BMW Group design chief Adrian van Hooydonk says all future models will have the same "look and feel" regardless of powertrain type All future BMW models, including ICE and EV, will use the Neue Klasse design language. All next-generation vehicles will feature a unified user interface, regardless of powertrain. Each model will have its own features, but the overall design and experience will remain consistent. If you're a fan of the design direction of the BMW Neue Klasse concept but find yourself less interested in electric powertrains, we've got some good news for you. The Bavarian brand is rolling out this new styling language on all future models - electric cars, hybrids, and even old-school combustion-engined cars. Not only will the next-generation BMW look similar on the outside, but the interior will also share the same high-tech, futuristic features, delivering virtually the same user experience no matter what's under the hood. More: BMW shakes up design team, Polestar's Missoni takes…
You better sit down, Recaro has applied
The German company responsible for some of the finest bucket seats for road cars and racing cars is in trouble, although the problems won't affect production of planes, trains and gaming seats go through Chris Chilton 5 hours ago Legendary sports seat maker Recaro has filed for bankruptcy. The company was bought by a private equity firm in 2020, and its closure puts 215 jobs at risk. The separate aircraft seating and gaming chairs divisions were not impacted by the collapse in the automotive business. Whether it's a hot production model for the street or an all-out race car, no fast car is complete without great sports seats. But it looks like the employees of the world's most famous sports seat company are about to be laid off, as Recaro has filed for bankruptcy. The automotive division was separated from the rest of the Recaro Group years ago and has been in the hands of investment company Raven Acquisitions since…
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