Translated version of the official release, so it reads a bit funny, but the message is clear:
"It's no secret that Gas Gas has faced many challenges in recent years. The company has significant financial debts accumulated [in recent years], which have affected our daily activities, at all levels, starting with our ability to produce and deliver motorcycles and spare parts to our loyal customers, to marketing and R & D. All of the economic environment of Gas Gas (suppliers, importers and dealers) has faced many difficulties due to this situation, and showed a lot of patience and support. None of this would have worked without the tremendous support, dedication and commitment of our employees.
The company, in collaboration with its shareholders and certain consultants recommended by the bank, worked on a debt restructuring plan in recent months, which includes new investments by shareholders support the growth of the company.
To date, banks have delayed their response and forced us to take certain legal actions to protect society and to advance the process.
Friday, January 17, 2015, a lawsuit was opened to speed the process.
As part of this process, we had to stop production, so there will likely be delays in deliveries of new motorcycles and spare parts in the coming days.
I am convinced that without long-term solution, we will continue to fail in the execution of our business plan, this as a result of not being able to offer you the quality of service that we strive for.
This week, the process begins to move faster. The company, with its shareholders, did his best to complete the restructuring agreement as soon as possible to immediately resume production.
Gas Gas will quickly communicate the developments, as new developments will occur. "
Yariv Gilat, president (Gas Gas)
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Doesn't sound good...
Tex
