Benelli, motorcycle manufacturer that was founded in 1911, was declared bankrupt by a court of Pesaro, Italy.
Reported by the Italian-language news agency, il fatto quotidiano.it, this decision caused Benelli failed to settle debts to providers suspension, WP Suspension, worth 120 thousand euros.
The court ruled this debt must be paid by the deadline of September 26. As a result, after this verdict, a Benelli motorcycle that should be sent to the dealer finally had seized the court.
Benelli said that the verdict had been wrong address. The reason, they claim to have plenty of money to pay off the debt. "Benelli have sufficient liquidity to meet their obligations (to pay a loan)," said the company spokesman.
But on the other hand, the judge said that the financial condition Benelli was difficult. In the trial, stated that in 2015 the Benelli deficit up to 5.7 million euros.
In 2014 they was also experiencing similar problems, though not in large numbers. Benelli is now just `` a loss of 800 thousand euros. There was no money, plus a lot of debt, so the main reason Benelli judges declared bankrupt.
For additional information, Benelli is one of the oldest motorcycle brand in Italy. In 2005, Benelli was purchased by multinational companies from China, Qianjiang Group.
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