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Austria this year ”.
It ' s expected that the insolvency will affect almost four thousand employees , as well as many others that work within the supply chain from other businesses . While the financial woes are massive under Austrian law the Insolvency Wage Fund will need to pay Christmas bonuses as well as November settlements .
The amounts owing are huge , with an estimated AU $ 2 billion owing to banks , AU $ 600 million to suppliers , and AU $ 65 million to employees .
An official statement from KTM , dated November 27 , 2024 , said that “ nothing will change ” for customers , with KTM guaranteeing that they “ will continue to deliver motorcycles , spare parts , and accessories under the usual conditions ”. It went on to say that there “ will be no irregularities – neither in the flow of goods nor customer service ”.
The debt restructuring plan is set to last ninety days starting from November 29 , a period that should allow the Pierer group to negotiate new debt financing conditions with creditors . It has been suggested that the Red Bull company , one that backs KTM in a number of motorsport ventures , was interested in helping with the bail out however , KTM have stated that this is not the case .
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