Moto Morini financial troubles latest: "We're working as normal"
Moto Morini has spoken exclusively to MCN about exactly what its recent step in to voluntary liquidation means for owners, buyers and dealers.
The Italian manufacturer made the decision to enter in to voluntary liquidation in September after not paying staff or suppliers for the month. Unlike liquidation of a UK company which generally leads to the company being broken down and sold off, Italian laws give firms protection against legal action from anyone trying to reclaim money. It also means investors interested in the floundering firm can invest in a company still running day-to-day operations, rather than picking up the pieces of a disbanded manufacturer.
So while that leaves suppliers and workers high and dry for the moment, Morini spokesman explains that it means they can continue working as normal:
“This will enable Morini to continue normal activity and allow the possibility for new investors to come into a "going concern". All daily activity here in Morini is as normal, so supply of bikes, spares and aftersales service are unaffected and we are hardly working to upgrade the rest of the range -like we have recently done with the 2010 model year Granpasso.”