The Milwaukee Journal Sentinel is reporting that the remaining assets of Erik Buell Racing have been sold for $2.25 million dollars to Atlantic Metals Group LLC. The remaining assets include factory machinery, tooling, motorcycle inventory, parts inventory, accounts receivable and intangible assets, according to the Journal Sentinel report.
An earlier deal saw Hero MotoCorp buy EBR’s consulting business assets for $2.8 million, bringing the total sale of the company to $5 million.
The JS report indicates that former employees will be first to receive what they’re owed, $202,000 in paid time off. Many creditors will be left short however, as earlier documents showed EBR had a total of $20.4 million in liabilities.
There has been no news yet regarding Atlantic Metals Group LLC’s plans for EBR.