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| GasGas in happier times |
Spanish off-road manufacturer Gas Gas Motos has filed for insolvency after efforts to sort its financial woes failed.
The company had been trying to restructure after seeking the protection of the courts in January to stave off collapse. It has a history of funding problems.
In the coming weeks a court-appointed trustee will take control of the company and in the meantime “efforts will continue to secure the investment required”.
John Shirt Jnr, director and team manager, Gas Gas UK, which distributes Gas Gas trials machines, said: “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.”
KTM had been rumoured to be interested but went public to deny the reports.
Shirt continued: “In the meantime the Gas Gas spare parts department is still operational and we are still receiving regular deliveries from the factory. We have big stock of spares and if GG can't supply certain parts we can buy direct from the actual suppliers so we have no immediate problem supplying parts.”
www.gasgasuk.com
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