In the article, Buell cites an unexpected financial turn in which expected funding was not secured. For now EBR has filed for Chapter 128 protection under Wisconsin state law. Similar to bankruptcy filing, the Chapter 128 status put EBR into court appointed receivership.
EBR was founded in 2009 by its namesake, Erik Buell, only months after Buell Motorcycles was shuttered by Harley-Davidson. Initially EBR functioned as an independent race shop, backing Buell-based racing efforts. But eventually EBR returned to production with its 1190RS and, more recently, 1190RX. EBR was backed by personal investments by Buell, as well as a $25 million investment by the Indian-based Hero MotoCorp, which acquired a 49.2% stake in the company in 2013.
MotoUSA has contacted EBR and is awaiting confirmation of the receivership status and its future production plans. UPDATE: April 20, 2015 Erik Buell issued a statement on the EBR receivership in a EBR Facebook post.