In the never ending saga of manufacturer American IronHorse Motorcycles, a new chapter is being written. The last? The company is trying to recover some money by having its intellectual property sold as the business is liquidated through bankruptcy proceedings. American IronHorse filed a petition for voluntary Chapter 11 bankruptcy proceedings on April 30. It had assets of $1 million and liabilities of $10 million.
The company is putting for sale its trademark of American IronHorse, of model names (like Slammer, Legend, Texas Chopper, Tejas and Outlaw), patents, Internet addresses, parts designs(?), customers data, etc. Streambank, the company in charge of selling these American IronHorse intangible properties expects to close the process in January 2010 or before. A total of 15,000 motorcycles would have been sold by American Ironhorse. I am sure that their owners would like to see somebody interested by such a sale. But my opinion is that the brand image is so damaged that the intellectual property is no more an asset but a huge liability. Anyone crazy enough out there?