Touratech filing for insolvency!

[slparry]

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[fontana]

Yet another manufacturer underestimating a shrinking market.

[gingergeezer]

Ah, The Comeback Kid returns...again. Thought you'd finally left the building for good?

So, am interested to know who are these other manufacturers are who have 'understimated a shrinking market'? Evidence is, as ever, always welcome.

In this market at least, Touratech was/is a leading accessory & apparel manufacturer who were successfully meeting the demand in the growing segment that is adventure motorcycling. The UK & Canadian distribution side of the business is evidently continuing to function as normal. They do fine quality GPS mountings, particularly good for those amongst us who get frequently lost

[Grip Fast]

"The reason for the insolvency is the late implementation of the new building, which was necessary due to increased demand, the press release states."

They're saying it was an inability to cope with increased demand that caused the problem, not a shrinking market. They were having logistics and distribution problems, it seems, because this new building was late.

[popsky]

What I found the most confusing was the cost of the new buildings 10million € and after completion they file for insolvency Seems to be some discrepancy……

[Boxered]

I think that maybe they applied for insovency in order to protect themselves from creditors seeking a winding up order, if German law is anything like ours that is.
Steve

[fontana]

Ah, The Comeback Kid returns...again. Thought you'd finally left the building for good?

So, am interested to know who are these other manufacturers are who have 'understimated a shrinking market'? Evidence is, as ever, always welcome:

Well of course there was Heine Gericke a few years back.
At about the same time Buell went under as HD cut them off when they ran into financial difficulties.
Fact is the market is shrinking and sales are suffering especially over the last few years.
Just look up the MCIA figures and then show your evidence that disproves them.
Cheers

[milleplod]

Ah, The Comeback Kid returns...again. Thought you'd finally left the building for good?

So, am interested to know who are these other manufacturers are who have 'understimated a shrinking market'? Evidence is, as ever, always welcome:

Well of course there was Heine Gericke a few years back.
At about the same time Buell went under as HD cut them off when they ran into financial difficulties.
Fact is the market is shrinking and sales are suffering especially over the last few years.
Just look up the MCIA figures and then show your evidence that disproves them.
Cheers

Hein Gericke did the comeback thing too!

Pete

[Stanley]

It does seem that the costs, both financial and temporal, have combined to create this situation. I really hope that they can resolve it; they make, and supply, some excellent products (amongst the tat that some bikes end up festooned in!).

I wondered if they were having problems... I had placed a fairly significant order with them a few months ago; they took much longer to supply than originally estimated. They fobbed me off with some flimsy excuses about the new warehouse. I wouldn't be fobbed off so easily....... we came to an arrangement that I was happy with though

ps. The order eventually arrived; very happy with it all.

[boxerscott]

I have never bought touratech stuff, probably because I do not own a gs however they are doing something wrong if they file for insolvency. There operating costs are higher than the profits from the sales. I do not know feck all about the company wether or not they manufacture the stuff or just outsource it but they aint getting it right. The bikes coming off the showroom floor with manufacturer options are brilliant anyway. I do think they are facing a shrinking market place. You would not be impressed with them if you were a creditor.

Chris

[fontana]

Hein Gericke did the comeback thing too!

Pete

Most of the UK shops were bought by J&S.

[milleplod]

Hein Gericke did the comeback thing too!

Pete

Most of the UK shops were bought by J&S.

I didn't know that. I always liked HG stuff - my favourite bike trousers are a pair of theirs I was issued with around 20 years ago, Sheltex ones. Still 100% waterproof, washed/reproofed twice a year, they just keep going.

Pete

[dave the german]

Hein Gericke did the comeback thing too!

Pete

Most of the UK shops were bought by J&S.

I didn't know that. I always liked HG stuff - my favourite bike trousers are a pair of theirs I was issued with around 20 years ago, Sheltex ones. Still 100% waterproof, washed/reproofed twice a year, they just keep going.

Pete

Not sure the shops were bought by J & S but they did get their stock
Pete, I have to agree on HG's products - just come in from work in my 9 year old HG jacket - don't think I've ever washed that one (getting a bit pongy now tho so it will be done this year) and bone dry. I liked it so much bought another when they were discontinuing the jacket. It's a bit heavy for summer use abroad but brilliant for our climate. They were maybe a victim of their own success

[Herb]

I think the Hein Gericke and Touratech situations are the mirror image of each other.

HG UK went into administration and ultimately disappeared, but Germany continued to trade, hence you can still buy HG stuff from certain outlets. In the case of Touratech, it's the German parent who has gone into administration, but the regional companies have been doing well, though obviously there may now be supply issues to the regions.

[Stanley]

It doesn't seem to be a supply v demand issue as such; It seems they borrowed heavily to invest in the new plant, but this took longer than planned to get up and running. Now the lenders want their return.
Sounds like poor project management to me.