Almost 15 months after restarting production, the assets of EBR Motorcycles will be liquidated at an on-site sale and public auction after the company could not secure additional investors.
“We have no illusions, the market is very soft and we are prepared to deeply discount everything,” said Bill Melvin, chief executive officer of Michigan-based Liquid Asset Partners. “It’s stacked high and we’re selling it cheap. Everything must be sold regardless of cost or loss.”
Liquid Asset Partners bought the assets of Erik Buell Racing out of receivership in early 2016 and relaunched production in March of that year. The company was able to secure a number of dealers, unveiled a 2017 model year and secured a retail financing partnership for potential buyers.
But in January the company announced it would wind down production operations while still honoring warranties and providing technical and parts support. EBR at the time said it would review strategic alternatives with interested investors regarding production.
Liquid Asset Partners said Thursday it could not secure a new investor and would consolidate its long-term parts for dealer and warranty support. The company will hold a public liquidation sale at the East Troy factory to sell parts, tools and historical items. The sale starts June 7 and will run for two months.
A public auction will be held at the factory on June 8 to sell EBR intellectual property, production and testing equipment and tooling located at suppliers around the world.
More than $15 million in excess motorcycle parts will also be liquidated in a discounting process run through the standard ordering process.
Melvin predicted some people would be able to start a new business just from buying items for sale in the liquidation.
“This will represent the largest factory liquidation of sport motorcycle manufacturing facility,” Melvin said. “These super bike parts and equipment, which are rolling art, are selling at enormous discounts, right off the factory floor.”