Tauranga’s e-motorcycle maker Ubco goes into receivership
Tauranga-based electric motorcycle manufacturer Ubco has gone into receivership, only a few months after celebrating a major deal with Australia Post. Grant Thornton’s Stephen Keen and David Ruscoe, appointed as receivers, say they have terminated all employees and ceased trading due to the lack of available funding. According to their statement, they hope to sell the business and are inviting expressions of interest. Further details on financials and outstanding debts were not provided. Before receivership, Ubco’s LinkedIn data suggested around 82 employees remained, down from 109 at the same time...
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