Touratech UK has released a full statement following the shock news that its German parent company had filed for insolvency. Details emerged on Friday 11 August that the hugely popular motorcycle accessory manufacturer, based in Niedereschach, Germany, had filed for insolvency, and Nick Plumb, CEO of Touratech UK, has moved quickly to calm any speculation.
In a press release published on Monday afternoon, Nick set out to shed some light on recent events and to reassure customers that it was “business as usual” at Touratech UK, citing that sales in the UK are up due to a high demand in the adventure bike market.
According to Nick, Touratech AG has started insolvency proceedings, as required by German law, in order to restructure and streamline the business to “get it working as it should be”.
Nick’s statement all but confirms the news that failures to fulfil orders, and the delayed implementation of a new logistics centre in Niedereschach, have led to problems with logistics and production. These then led to production and supply losses and eventually the need to file for insolvency.
“There has been a lot of speculation and talk over the weekend, over the press release which was sent out on Friday 11 August regarding Touratech Germany starting Insolvency proceedings,” wrote Nick Plumb, CEO of Touratech UK. “We have been informed that this is a process under German law that allows Touratech AG to restructure, giving Touratech AG the opportunity to get it working as it should be.
We would like to take this opportunity to reassure you that we have been told from Germany’s, the UK’s, and the rest of the world’s point of view, it is business as usual.
Firstly, let me put it into some context. Touratech UK, and all the distributors were all unaware of the current situation of Touratech Germany. We received an email at close of play on Friday at 17.05pm, where we were told exactly the same time as everyone else. This came as a complete shock to us.
Touratech UK, like all the distributors worldwide, are independently owned companies. We are all importers of Touratech products and we have been informed that we will not be affected by the restructuring in Germany. Even though we have had supply issues in the past, we as a company have still continued to grow. This year alone UK sales are up due to the continued demand in the adventure bike market.
I can confirm from the Touratech UK customer’s point of view, nothing has changed. Touratech has been producing quality products for years and will continue to do so. The company is known for quality, innovative ideas and inspiration for adventure riders. We have been told that the production and delivery of Touratech products will continue without any interruptions during this restructuring process.
Nick and the team feel that the loyal customers of Touratech already know that the Touratech brand is the brand to be with and will be around for a long time to come. Touratech UK customers are always at the forefront of everything we do and we try to provide the right customer service culture to maximise customer satisfaction.
Touratech UK is 100% supporting Touratech Germany throughout this process, I know the Touratech brand will be a lot stronger for it.”