The Pierer Mobility Group has announced that KTM is entering into voluntary restructuring in order to avoid bankruptcy amid ongoing financial woes in the company.
KTM’s financial problems have led to a number of drastic measures in recent months, with its board of directors slashed from six to two while several rounds of staff layoffs have been carried out.
In recent weeks it was reported that KTM would be laying off up to another 300 employees, while all production would be ceases in January and February.
This comes as its share prices have plummeted 90% since their peak in February of 2022, with the company not expecting to secure the necessary financing to cover the “high three-digit million”…
