Benelli Bike News

Benelli bankrupt states Italian court, as they didn’t clear dues of a KTM Group company

 
Benelli TNT600i LE

After Benelli failed to pay WP Suspension a certain amount, the Italian Court has declared the company bankrupt.

Italian motorcycle manufacturer Benelli has been declared bankrupt by the Court in Pesaro after the company failed to pay suspension maker WP Suspension (a part of KTM Group company) an amount of €120,000 (INR 90 lakh) for supply of components.

Though Qianjiang Group, owners of Benelli brand assert that the company is financially sound and that they have plenty of funds to pay off debts, the court trustee has seized company’s inventory as collateral for amount owed.

Benelli Tornado 302 at 2016 Auto Expo

Benelli has appealed to the Court of Appeal in Ancona to reverse this decision and states that it is financially sound. The company is in the process of repaying all its debts which are rumored in the region of €1 million. Even as the company denies bankruptcy, Benelli backed by China’s Qianjiang Group, has faced financial difficulties in the past claiming loss of €800,000 in 2014, which increased to €5.7 million in 2015.

Expansion to global markets is also being undertaken while the bike maker displayed a host of new and upcoming products at EICMA 2015 in Milan. Benelli in India has been seeing strong growth. It is one of the fastest growing motorcycle brands in the country offering products with competitive pricing.

Benelli at IBW 2016

Recently, DSK Benelli India opened an exclusive showroom in Jalandhar in North India from where the entire range of DSK Benelli superbikes are being sold. The showroom will sell the TNT 25, TNT 300, TNT 600i (ABS), TNT 600 GT, TNT 899, and TNT R. In India, Benelli also has showrooms in Pune, Mumbai, Bengaluru, Chennai, Hyderabad, Ahmedabad, Chandigarh, Kolkata, Delhi, Goa and Jaipur.

Benelli TRK 502 – Photos

 

About the author

Pearl Daniels

Pearl Daniels

Former freelance writer, Pearl Daniels is in the auto industry since 2011, having established herself as a widely read staff writer since 2013. Her keen eye for industry news, daily need to break down latest events, and quest to not miss a single launch detail, gives you the most refreshing morning news on weekdays.

Email - pearl@rushlane.com

  • Net Troll

    Not trying to be against Benelli but the junkers of 200+kg are the weakest superbikes I have ever tested and this coming from a Harley rider should be all the more shocking because when Harleys cruise at top speed they are way below a ton while sports bikes hit the ton at probably 2nd or 3rd gear. I think Benelli needs some real techies and bikers to design their bikes instead of the chinese substandard manufacturing facility and test. By the way Benelli tied up with DSK in India, a company that’s already set the milestone for pathetic service with their hyosung tie up so it’s all the more disaster for company.