Gas Gas files for insolvency in Spain
Manufacturer of trials and enduro bikes Gas Gas Motos has filed for insolvency in the Spanish courts while the company seeks new investors.
UK importer ClementsMoto Ltd has confirmed the Spanish firm filed for bankruptcy on May 18 in their home country.
A Gas Gas statement states: “In spite of all efforts to find a solution to the current financial situation and re-structure the company, to date none has been found. In the coming weeks a court appointed trustee will take control of the company, but until that date, efforts continue to secure the investment required.
“In the event this fails, the court appointed trustee will see that the company is sold and we believe several parties are already involved in negotiations behind the scene to acquire the company as a going concern.”