Yesterday’s public bankruptcy auction in Bologna to acquire Moto Morini and put it back into business went down another black hole, with no offers being made.
The Italian motorcycle manufacturer first went into voluntary liquidation, with Paolo Berlusconi offering to buy the company out, but that was nixed by the trade unions and then a Canadian consortium seemed interested, but that panned out to nothing, as did the interest of Thomas Bleiner, a green energy entrepeneur.
The company will go back under the hammer this summer, and according to Italy’s newspaper La Republica, there are still three groups (two foreign and one Italian) interested in acquiring the company, but were unable to find the funds necessary to put in a bid in time for the auction.
But this could be the usual move, waiting for bankruptcy administrator to lower the initial bidding in a desperate move to sell off all the remaining assets as soon as possible to pay off all the outstanding debts, so they can take home the iconic marque with a lot less euros to dish out.