Pierer Industrie AG, an Austrian conglomerate, is taking measures to extend the maturity of approximately €250 million in debt in response to financial difficulties at its KTM motorcycle division.
The company, led by entrepreneur Stefan Pierer, has initiated a restructuring process to prevent creditors from demanding early repayment due to the ongoing overhaul at KTM.
The restructuring aims to maintain the current claims of creditors without any reductions, highlighting the financial challenges faced by the motorcycle unit and the company's commitment to navigating these difficulties while honoring its obligations to lenders.