Announced in a press release yesterday, starting next week Liquid Asset Partners (LAP) will start winding down productions and is looking for a strategic investor to take over the brand. When LAP, a liquidation company, brought Eric Buell Racing out of bankruptcy in mid-January 2016 many thought the motorcycle name would be sold off piece by piece.
“I believe Erik Buell Racing (EBR) has established themselves as one of the premier motorcycle manufacturers in the world and has strong potential as a viable business,” Bill Melvin, CEO of Liquid Asset Partners said in a press release dated January 15th, 2016.
The new, restructured company called EBR Motorcycles saw its first bike roll off the new production lines in mid-March 2016 and announced the release of its 2017 models last September.
EBR Motorcycles 1190 RX
Fast forward to today and, according to the press release, the newly formed motorcycle manufacturer was unable to secure dealerships, leading to low production for these new models.
“This difficult decision was based primarily on EBR facing significant headwinds with signing new dealers, which is key to sales and growth for a new company,” the company said in a statement. “The combination of slow sales and industry announcements of other major OEM brands closing or cutting production only magnified the challenges faced by EBR.”
This leaves the result many thought would happen when LAP acquired the Buell assets at the beginning of 2016. In a statement, EBR said it will continue to honor warranties and provide parts support to current dealers and riders who bought the company’s motorcycles.