bankruptcy Archives - ADV Pulse

KTM Forced To Halt Production Once Again

Jamie Elvidge — Mon, 28 Apr 2025 19:53:15 +0000

It’s déjà vu in Mattighofen, Austria, where KTM has once again shut down its production lines, this time until at least the end of July. The official reason? A lack of parts. But more specifically, there’s not enough cash to pay for parts. Workers learned of the production shutdown last Thursday via a video message […]

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KTM To Resume Production After Creditors Approve Restructuring Plan

Jamie Elvidge — Wed, 26 Feb 2025 19:56:28 +0000

KTM’s dance with financial peril appears to be winding down after a simple majority of creditors (more than 50 percent of entities holding at least 50 percent of total claims) approved a restructuring plan presented by its parent company, Pierer Mobility. The plan involves a one-time cash payout equaling 30 percent of each approved creditor’s […]

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Major Creditor Clashes With KTM Ahead Of Crucial Restructuring Vote

Jamie Elvidge — Mon, 10 Feb 2025 21:36:47 +0000

KTM AG is facing pushback from a major U.S. creditor as it heads toward a crucial debt restructuring vote on February 25th. The issue centers on American hedge fund Whitebox Advisors LLC, which holds KTM’s Schuldschein promissory notes and has accused the Austrian manufacturer of using “delaying tactics” to avoid negotiations over its alternative proposal. […]

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KTM Sells Majority Stake Back To MV Agusta

Jamie Elvidge — Mon, 03 Feb 2025 19:14:52 +0000

Iconic Italian brand MV Agusta has announced its official return to independence after an end-of-January deal resulted in a plan for KTM’s 50.1 percent majority stake to be sold back to its previous owner, the Sardarov family-owned Art of Mobility S.A. Although the detailed terms of the agreement have not been disclosed, Pierer Mobility AG […]

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Stefan Pierer Steps Down As KTM CEO, Creditors File €2.2B In Claims

Jamie Elvidge — Fri, 24 Jan 2025 22:05:27 +0000

KTM’s financial troubles continue to manifest as CEO Stefan Pierer, who spent three decades transforming the company from a modestly successful European brand into the global manufacturing powerhouse we know today, steps down. His departure underscores the gravity of challenges facing KTM’s parent company, Pierer Mobility Group, which is currently navigating a court-supervised restructuring process. […]

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MV Agusta Clears the Air On Its Future and Independence From KTM

Jamie Elvidge — Sat, 14 Dec 2024 20:07:12 +0000

MV Agusta has issued a statement addressing recent speculation, much of which has been laced with misinformation about the iconic Italian brand’s future, including an unconfirmed forecast that beleaguered KTM AG, which holds a controlling 50.1% stake in MV, has already decided to divest its stake amidst its own financial spiral and insolvency proceedings. The […]

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KTM Enters Emergency Debt Restructuring To Avoid Bankruptcy

Jamie Elvidge — Thu, 28 Nov 2024 19:24:54 +0000

KTM AG’s potentially catastrophic financial issues continue to unfold with parent company Pierer Mobility releasing a new statement, this one announcing that Europe’s largest motorcycle manufacturer will be filing for “legal restructuring proceedings with self administration” on November 29th. In this phase of what’s become a ride-or-die rodeo for CEO Stefan Pierer, who issued a […]

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