Reported about 6 hours ago
Austrian motorbike maker KTM AG's creditors have approved a restructuring plan that will eliminate 70% of the company's debt, allowing it to recommence production with new investments. To comply with this plan, KTM needs to secure €548 million ($575 million) in funding by May 23. Despite opposition from U.S. hedge fund Whitebox Advisors, the restructuring is seen as crucial after KTM's insolvency filing due to declining sales post-pandemic.
Source: YAHOO