GILROY
– The sale of the Indian Motorcycle Company’s assets is still
pending, and officials don’t expect to announce an auction winner
this week.
GILROY – The sale of the Indian Motorcycle Company’s assets is still pending, and officials don’t expect to announce an auction winner this week.
Of the original bidders who are not anonymous, the Matrix Capital group, at least – led by Gilroy’s Rey Sotelo, among others – is still in the running. David Huntington, who owns the group’s namesake investment firm, talked to a CMA attorney Tuesday and said he believes Matrix may be the leading bidder at this point.
Bill Melvin, the other known bidder, could not be reached for comment.
It’s been nearly six weeks since the auction deadline, when seven companies entered bids for the trademarks and Gilroy real estate of what was the second-biggest U.S. motorcycle maker. The offers among these keep going up, according to Chuck Klaus, estate manager for the Credit Managers Association of California, which Indian hired to liquidate its assets and pay off its long list of creditors.
“If the price was going down, I would have closed this deal a long time ago,” Klaus said.
Indian shut down production without warning on Sept. 19 and laid off about 380 employees – virtually its entire workforce.
