Gas Gas Motorcycles To Be Liquidated

It sadly looks like the end of the road for Spanish trials and enduro manufacturer Gas Gas. Those following the story will probably be aware that the company entered into bankruptcy proceedings last month due to being unable to service its debts. It was hoped that this would buy the company time to enter further negotiations with creditors or find a wealthy suitor to take the company over.

That appears to have failed and now the assets will be sold off in an attempt to repay creditors what they’re owed. It would therefore appear that Gas Gas will not be thrown any lifelines and it’s the end of another niche motorcycle manufacturer.

The following is a statement from Gas Gas:

Dear customers, partners and friends,

 

We will contact you to give you news about the current situation of the company.

 

As you know, in recent months the company of renegotiating its debt several times in order to continue production. Unfortunately, despite the efforts made ​​to achieve this goal, it was impossible to find an agreement and finally the decision was made ​​to put the company Gas Gas Motos SA in bankruptcy.

 

In this process, management, accounts receivable and trade unions working together to get all the necessary information to proceed as soon as the sale of the factory and quickly reach agreement with potential buyers.

The purpose of the sale of the plant is to revive the brand in a way that will allow us to continue to produce our enduro and trial in the future, but also to ensure stability and sustainability.

 

During the sales process, we will join our efforts to ensure the services in spare parts and after-sales department in order to avoid penalizing our customers.

Gas Gas sincerely thank you for your support during these difficult months and hope you share his total conviction of a positive outcome in the process of selling the plant.

Gas Gas Motos Files for Bankruptcy

Gas Gas Motos Files for Bankruptcy

Spanish off road motorcycle manufacturer Gas Gas has filed for bankruptcy, unable to meet its debt obligations. It’s been a torrid time for the company in recent years, having ceased all production of bikes in February while continuing with the operation of its spare parts division and sports side of the business in an attempt to stay afloat.

Gas Gas was hit hard by the economic downturn in Europe. Sales plummeted at a time the company had large amounts of debt. The perfect storm saw the company unable to service the interest payments on its loans which had lead to attempts to restructure the business. Unfortunately with the company now insolvent, this didn’t happen in time.

The following is a statement from Yariv Gilat, President of Gas Gas Motos:

To all Importers and Dealers Gas Gas Today, we have filed in court documents to the insolvency of Gas Gas Motos. Unfortunately, all our efforts to find a solution that will allow the continuation of the company so far were not enough. We are confident that with this new scenario, the company will be able to attract new investors and continue to produce excellent products, while continuing to lead the market of the Trial, producing big Enduro bikes and providing a better service to all our fans the whole world. The company was surrounded by people who are passionate, who have done their best to the company’s growth, in order to commercialize the best bikes.

In the coming days we will notify the name of the trustee that the court will appoint to ensure that the company will continue to provide after-sale (mainly spare parts), as long as there be a permanent solution. At that point, I would like to thank each and every one of you, all those who expect a lasting solution is found. The potential new investors in the company will find great people competent and passionate, who are constantly working to improve our bikes and many partners who strive to promote and market the most of our bikes everywhere.

We have not exhausted our efforts to find sufficient funds for the company, but the probability of finding a solution in the next few days is not very high. It’s very sad for us to take such a decision, given the 30 years of our great brand, but it is my duty, as President of the company, to think about the good of the company and decide accordingly.

According to the UK importer of Gas Gas motorcycles, there are several interested parties in the background who have begun negotiations to buy the company.

Gas Gas Motos Files for Bankruptcy