Moto Morini: ‘Everything’s alright... unless you’re a supplier’
25 September 2009 16:55
Moto Morini says it is “hitting back against internet rumours that have exaggerated the challenges facing the Italian manufacturer”, claiming it has paid all salaries owed to its 65 staff – though admitting its suppliers’ bills will continue to go unpaid.
“Moto Morini stated categorically that its own intention is to go straight ahead with all the company activities and all actions to date have been made with this in mind” they say – an acknowledgement that entering voluntary liquidation yesterday was a deliberate step to avoid having to pay suppliers, who have been unpaid since June.
Under Italian law suppliers now have no right to bring a criminal action against the company for not paying their invoices.
Morini assures us that “The commercial offices, technical, after-sales and spare parts departments are all working normally.
"Moto Morini is currently completing the updates on its range of products and expects 2010 models to be available from middle of October ‘09.”
Morini has sold more bike this year than last but too many of those sales have come from dealers’ running down of stocks rather than ordering more. It’s believed the firm has eight months under protection of Italian law to re-establish its finances.
Morini planned to sell 2000 bikes in 2009, on track for a break-even point of 2500 bikes in 2010.
A source close to the firm says they expect to actually hit a little over 1200 sales this year.