Keystone
The Austrian company Pierer Mobility has filed for insolvency proceedings for its subsidiary KTM at the competent regional court in Ried im Innkreis. This was stated by a company spokesperson on Friday at the request of the news agency AWP.
The motorcycle manufacturer, which is in severe financial difficulties, is thus taking refuge in creditor protection.
KTM is applying to the court for debtor-in-possession restructuring proceedings. The spokeswoman was unable to say how long it would take for the regional court to approve the application. According to the…
