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JP Cycles

  • STEAMER
    STEAMER
    7 years ago

    JP Cycles has announced Bankruptcy.


  • Paz141
    Paz141
    7 years ago
    The companies filing for Chapter 11 are the following: Renthal Americas, Tucker Rocky, Performance Machines (which includes Roland Sands Design), Vance & Hines, J&P Cycles, Velocity Holdings Company, Velocity Pooling Vehicle, DFR Acquisition, Ed Tucker Distributor, Kuryakyn, MAG Creative Group, MAGNET Force, Motorcycle Superstore, Motorcycle USA, Motorcycle Aftermarket Group, Mustang Motorcycle Products, Ralco Holdings, and Rally Holdings.
  • fatbat
    fatbat
    7 years ago
    It appears that all those companies/brands are owned by a larger company called Motorcycle Aftermarket Group (or MAG)  
    Found the below quote on what this is essentially about:

    "Chapter 11 allows the company, with the cooperation of the companies that they owe money to, to keep operating while they reorganize.

    MAG is doing a "debt for equity swap." That means, for example let's say that MAG owes a supplier 10 million dollars. They do a deal where the debt is partially or completely forgiven, but the company that they owed the money to now owns 10% of MAG. They work similar deals with their major debtors, with the involvement of outside lenders"  
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