Erik Buell Racing Sold Once More
After two failed receivership auctions, Erik Buell Racing has been acquired by Liquid Asset Partners for US$2.05 million on 13 January. Liquid Asset Partners have peculiar interest in EBR, having been appointed the liquidators of Buell Motorcycles, the former company started by Erik Buell and then owned by Harley-Davidson.A second auction was required after the winner of the first auction, Bruce Belfer, failed to deliver the required funds on deadline for the purchasing of the company. That auction win subsequently wen to Liquid Asset Partners, however a third auction was required after Belfer and another potential bidder, US Heritage Powersport, contested the second auction result.
Now it appears EBR is once and for all sold, and Liquid Asset Partners new begins the task of repaying EBR's outstanding creditors and employees, who are owed over US$200,000 in paid time off.
According to the Milwaukee Journal Sentinel, Kiquid Asset Partners owner Bill Melvin Jr. Hopes to get EBR up and running again as a motorcycle manufacturer, although it won't be directly through Liquid Asset Partners but more as its own separate company.
'We will not be manufacturing motorcycles, as Liquid Asset, but we will be working to put together a plan with a team that can be successful in doing that,' Melvin Jr. Said.Tag: EBR Erik Buell Erik Buell Racing Bill Melvin Bruce Belfer Liquid Asset Partners Auction Buell US Heritage Powersport
