Moto Morini closes doors
Italian maker joins MV Agusta with for sale signsThough the global financial crisis appears to be loosening its vice-like grip on many economies, the damage it has wrought continues.
New reports indicate that Italian motorcycle company Moto Morini has closed its production lines and shut up shop. The timing, just before Christmas, couldn't have been worse, with employees facing a grim European winter.
The motorcycle manufacturer went into receivership earlier this year after it failed to pay staff or suppliers in September, and was hoping new investors would save the day.
However with no saviours in the wings, the company will be sold off.
Moto Morini took the wraps off the 2010 model Granferro 1200 hypermotard (pictured) at the 2009 EICMA bike show in Milan in November, and has seen a mild increase in the number of bikes it sold this year, with a 15 per cent increase in the first eight months of 2009.
Another Italian casualty this year was MV Agusta, after owner Harley-Davidson re-evaluated its priorities. H-D also shut down Buell.
With Moto Morini now closing its doors and seeking a buyer, there are currently two Italian motorcycle companies looking for new owners.
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