Gas Gas has just released an official statement in which it clarifies first-hand the difficult economic situation it is going through and which has been in the news in the media in recent days.
OFFICIAL STATEMENT
Dear Collaborators,
It is no secret that Gas Gas has been facing tough challenges in recent years. The company has a substantial financial debt, which originated in previous years, and which has affected our day-to-day work in all areas, starting with our ability to manufacture and deliver motorcycles or spare parts to our loyal customers, as well as our Marketing and R+D activities.
All the parties involved in the Gas Gas family (suppliers, importers and concessionaires) have gone through many difficulties due to this situation and have faced them with enormous loyalty, support and patience.
Likewise, nothing would have been possible without the immense support, devotion and commitment of our employees.
The company, together with its partners and directors, and in agreement with the banks, has been working for the last few months on a financial debt restructuring plan, which includes new investments to support the company’s growth.
To this day, the banks have delayed their response and this has forced us to take legal action in order to protect the company and give continuity to the negotiation process that has been initiated.
To this end, last Friday, January 17, the company filed a pre-insolvency proceeding with the court as part of the aforementioned process in order to speed it up.
As part of this process, over the last few days we have been forced to stop production, which will inevitably affect our level of service for motorcycles and spare parts.
This week, however, the process is moving quickly. The company and its shareholders are doing everything possible to close this debt restructuring agreement as soon as possible and to immediately resume our productive activity.
Gas Gas will continue to inform you promptly as soon as there are new developments in this regard.
Kind regards
YARIV GILAT
President
