Nuova Garelli has walked away from talks over the future of Moto Morini, which now looks like it will shut-down entirely with the only buyer expressing interest apparently offended by the way proceedings developed. A meeting which was scheduled for Monday for interested parties was cancelled and trade union involvement meant that Nuova Garelli still couldn’t reach an agreement particularly with regards to the future of workers.
The historic Italian motorcycle company now looks like it will be left with no future at all, and the trade unions, there to protect workers, have effectively done them out of a job altogether. We can only assume that bankruptcy proceedings will now continue, and Nuova Garelli will walk away feeling like its fingers have been burnt.
In fact, in issuing a statement, Nuova Garelli stated that:
“The meeting of June 14 was cancelled for incomprehensible reasons…. In light of obstacles from the trade unions and the impossibility of reaching an agreement with them, Nuova Garelli feels it must put an end to this affair which could have overtones of a soap opera if it weren’t for seeing bankrupt Moto Morini workers at home and without jobs.”
That would seem like the last word from Nuova Garelli and now we can only sit by and watch Moto Morini close its doors.