Excelsior-Henderson to file for Bankruptcy?

According to a report in this morning's St. Paul Pioneer Press, Minnesota motorcycle manufacturer Excelsior-Henderson may be on the verge of filing for "creditor protection" as their desperately needed financing has yet to come through for the Hanlon brothers and scores of shareholders.

The report states that E-H is down to about one million dollars in capital, which is about one month's expenses for the new motorcycle company. The company recently defaulted on a seven million dollar loan to the State of Minnesota.

Read the PioneerPlanet report by clicking here.
 

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