American IronHorse’s new unit sales plummeted more than 70 percent from 2005 to last year, according to bankruptcy papers the company filed March 25.
The custom V-twin manufacturer registered $96 million in dealer sales in 2005. That dropped nearly 45 percent one year later to $53 million. By 2007, dealer sales had decreased to $25 million, according to the bankruptcy papers filed in the Northern District of Texas federal bankruptcy court.
IronHorse filed for Chapter 11 bankruptcy and a company official told Powersports Business that the company is speaking with potential outside investors.
According to the court papers, IronHorse discontinued operations late last year and retained an investment banking firm to assist it in obtaining additional investment capital and/or locating a buyer for the company or its assets.
For more on American IronHorse, see the upcoming edition of Powersports Business.