American Ironhorse will get New Owner this Week

May 22 is the day of the auction and the bidding will start at 6.7 million and go in $300,000 increments from there.  According to the Star Telegram the opening bid is from Scott Meyers of Rocky Mountain Choppers, an Ironhorse dealer in Montana.  Also intertested is Bill Rucker, co-founder of the company who is said to have a bid of $6.9 mil in place.  American Ironhorse currently has $29 million of debt and the auction is being administered by the federal bankruptcy court in Texas.  There are currently about 750 unsold motorcycles sitting at dealerships and an additional 350-400 bikes being held by Ironhorse creditor Textron Corp..  The fate and warranty of these vehicles is unknown.  AIH currently employs a skeleton crew of just 8 people.  Most operations at the Ft Worth facility came to an end in March of this year.

~ by vtwinshow on Monday,May 19, 2008.