MV Agusta Files Chapter 11 Bankruptcy; Financial Problems

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MV Agusta has once again fallen prey to financial troubles. The Italian manufacturer of luxury and premium two-wheelers has filed for Chapter 11 Bankruptcy. The decision was made so that MV Agusta could save its positive assets for itself incase of any further problems.

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Currently, Mercedes-AMG is a 25 percent stake holder in MV Agusta. So far, the German luxury performance automobile manufacturer has not commented on the situation. We hope to hear from them soon and will pass on details when revealed.

The Italian two-wheeler manufacturer has a debt of almost 40 million Euros. MV Agusta plans on restructuring how it will be paying up its lenders. Last year, the company witnessed a turnover of 100 million Euros, which accounted 30 percent more than 2014.

Every MV Agusta motorcycle built is painstakingly done by hand. Currently, the F3 models are their best-selling superbikes worldwide. On the other hand, their four-cylinder litre-class machines are not selling high volumes as expected.

For the Indian market, MV Agusta has teamed up with Kinetic for selling its premium bikes. On offer at this moment are a selected few motorcycles and the remaining will be introduced soon in a phased manner. Fans and enthusiasts would really like MV Agusta to survive this turmoil.

Read more on: #mv agusta #auto news
Story first published: Saturday, March 26, 2016, 12:01 [IST]
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