Pierer Mobility AG announced a “pit stop” for KTM AG, filing for insolvency by self-administration proceedings over th

Austrian motorcycle giant and maker of the X-Bow sports car KTM is on the verge of bankruptcy and will begin a “self-administration” restructuring process to avoid dissolution. A big part of the company’s big money-saving efforts will see the MotoGP effort on the chopping block.

Pierer Mobility AG, the owner of several motorcycle and scooter/e-bike brands, announced last week that its subsidiary KTM is undergoing a self-administered restructuring to shed debt without involving bankruptcy courts.