Austrian motorcycle maker KTM will enter self-administration and initiate a 90-day restructuring plan to avoid bankruptcy.
The company aims to conclude the process within 90 days and present a credible restructuring plan to address the current debt and ensure future continuity.
KTM currently carries a debt of around 1.5 billion euros, attributed to the purchase of MV Agusta and other factors.
The company's share price has also declined significantly, with a loss of 84% and a decline in sales and slow-moving dealer inventory.