KTM Management Dodges American Hedge-Fund on Road to Restructure Debt-ridden Company
I am kind of getting bored if not sick of KTM hogging the news regarding its financial mismanagement — they have cool motorcycles and losing money — something Harley-Davidson should watch out for.
Motorcycle Maker KTM has been Accused of ‘Delaying Tactics’ Ahead of Crucial Vote to Restructure and Revive the Company. A US hedge fund named Whitebox is pushing for an alternative plan against KTM’s current proposal. Creditors will be voting on a restructuring plan on 25-Feb-2025.
One creditor opposing the debt restructuring plan of Austrian motorcycle manufacturer KTM AG has accused the company of “delaying tactics” to avoid addressing an alternative proposal.
US hedge fund Whitebox Advisors LLC, holds KTM promissory notes known as Schuldschein. The hedge fund claims that KTM has failed to seek negotiations or respond to requests for information in a letter sent to management. Creditors are due to vote on the restructuring plan on 25-Feb-2025.
Pierer Mobility has been wrestling to hold on to KTM despite what seems as a horrible mismanagement of money and resources and privileges. Refer our recent reports on KTM regarding these concerns.
With billions in debt and facing liquidation or takeover….the former CEO who has “restructured” himself as co-CEO (and the co-CEO is the new CEO) seems to be racing against time and running out of monetary fuel needed to re-establish the brand
—Wayfarer
Associate Editor
