Friday, 16 March 2012

Lehman Trikes closing down?

Lehman Trikes closing down?

Founder John K. Lehman, who died in January this year, moved his company from Canada to Spearfish, South Dakota, in 2004 and saw several years of continued growth; the valuable contract to build the Tri-Glide for Harley-Davidson came to an end in 2010
Lehman Trikes of Spearfish, South Dakota, has "suspended operations and may not reopen" according to the Rapid City Journal.

A number of workers were laid off in November while an investment solution was sought, but president and chief executive officer Ken Hines has announced that the company has been "unable to complete the proposed sale".
Hines states that attempts to achieve refinancing are ongoing, but that the company cannot continue to operate in the meantime and that "there is no assurance that the company will be able to secure the required funding to recommence operations".

The company has suffered a series of blows, not least the recent death at 60 years of age of founder John K. Lehman in January.
In 2010, Lehman's contract to build the Tri-Glide trike for Harley came to an end and, despite subsequent trike projects on an number of platforms (such as Victory, Honda, Suzuki) as well as Harley based trike builds, the decision to put the company up for sale in November last year may have come too late and cannot have been helped by the nature of the economic climate.


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