Erik Buell Racing has closed the doors and is filing for receivership, according to the Milwaukee Journal Sentinel. After being closed down by Harley Davidson, it looked like Erik was back on his feet and Erik Buell Racing was doing well, but perhaps that was only on the track.
I'm actually surprised, I thought the Hero partnership had placed them on solid footing, evidently not. This is truly sad.
The company is closed for now, Buell said, and is seeking protection under a state statute which is similar to federal bankruptcy law. Attorney Michael S. Polsky will be the court appointed receiver at the company's request. Bids will be solicited for the company as part of the Chapter 128 process, with the winning bid to be determined by the court.