Moto Morini still for sale

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Who wouldn't want to put down 5.5 million euros to buy a company building bikes like this?
Who wouldn't want to put down 5.5 million euros to buy a company building bikes like this?

Bankrupt Italian bike company, Moto Morini is still looking for a buyer.

The Italian motorcycle manufacturer went on the auction block yesterday, but Motoblog.it reports there were no buyers for the company that’s been around since 1937.

That’s got to be tough news for the employees; the factory has been shut down since March 31 of 2010. They’ve paid a few bills by selling off existing bike inventory, but hopes were that this week’s auction would bring out a buyer to return the company to full-time operation.

Although nobody showed up with the 5,500,000 euros that the bankruptcy administrator was hoping for, there are still three groups supposedly interested in buying the company.

The company may go back on the auction block this summer, but whether anyone will pony up the cash and put the 40 employees back to work remains to be seen.

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