Last week (Friday 11th August) Ingo Schorlemmer, press officer of the law firm Schultze and Braun, distributed an official press release confirming that Touratech had filed for insolvency. The Internet and motorcycle industry alike were immediately abuzz with speculation surrounding the company’s future.
Lisa and I started our story with Touratech almost 25-years ago, and like so many, we flicked eagerly through their once thin catalogue, marveling at the pages and images of riders exploring the world. As our own journey and story took on a life of it’s own, we have always felt privileged to be part of the Touratech family, and watched with pride as the, once small German yellow and black brand, has grown to become the hugely influential global brand it is today.
During our years on the road, Touratech have been there, by our side, providing encouragement and unconditional equipment support. To the surprise of many, Touratech have never demanded promotion, Facebook post or anything in return. The honor system plays a big part of the Touratech work ethic. During this difficult period for Touratech, Lisa and I want to return that support in whatever way we can.
It is however, important to understand the difference between any company being in a state of insolvency and, the often misinterpreted, declaration of bankruptcy. In simple terms, insolvency is just a financial tool; a declaration of insolvency, simply confirms that bills cannot be paid at this time, a situation usually related to a tight cash-flow situation, and often experienced by firms, that have seen rapid and aggressive expansion. Insolvency often just allows firms to restructure, reorganize, re-prioritize, without the day-to-day pressure of bill payment, and then move forward.
For many organizations, insolvency is a necessary growing pain, a stepping-stone toward future long-term success. My personal take on this is that Touratech’s current insolvency is a temporary problem, that, with our collective support will seem them emerge the other side, streamlined, refocused and stronger.
At time of writing, my understanding is that due to construction, production and software problems last year, Touratech are experiencing cash flow difficulties and hence the filling for insolvency. A message reinforced recently by Touratech founder and CEO Herbert Schwarz in his recent video. See below.
Official Statement by Touratech Ireland via Facebook:
Touratech AG (Germany HQ) has recently filed an application for insolvency with the local authorities in Germany and MORE IMPORTANTLY a restructuring process commences at Touratech HQ in Germany in order to provide a healthy, stable and sustainable platform for the future.
Touratech AG has undergone and continues to undergo substantial expansion at the factory in order to meet demand and supply its customers around the world with thousands of top quality parts and accessories. During the restructure production and distribution continues as normal both at the factory and in Ireland.
Overlander's & Adventure Motorcycles Ireland Ltd. as the Touratech Ireland distributor will continue to be the dedicated one stop shop and resource for Adventure Motorcycling.
We're looking forward to the Touratech Ireland Travel Event from 25th to 27th of August in Glenmalure, Co. Wicklow. See you there!"
In response to Touratech’s public statement, it’s been saddening to see some respond with abject negativity, verging on meanness. Are Lisa and I unashamedly bias toward Touratech? absolutely!
When you look at any company, much can be assessed based on the behavior and influence of it’s leadership. We can attest from personal experienced, that above all else, Herbert (CEO) is a motorcyclist. He and Jochen (Schanz) as Touratech, have supported so many riders year upon year, and done this quietly and without fanfare.
After 14-years on the road, we, more than most can confirm that Touratech’s core products, offer a level of quality and design that sets the bar high and performs for us, on every continent, year round in every conceivable terrain.
Without doubt, Touratech have been powerfully instrumental in the development of the global ADV motorcycling genre and community that we love. Touratech is a family of riders, lead and founded by individuals that love to ride.
As a global brotherhood of people that love to ride, most of us take great pride in the unequaled level of support and camaraderie that we offer each other in times of need. In Touratech’s time of need, I would simply ask that we don’t let ourselves down by offering them less.
Lisa and I are proud to stand as ambassadors, exemplifying the quality of the Touratech product and continue to be humbled by the brands on-going generosity. We’re looking forward to seeing Touratech and the community we love, emerge from this period, stronger, impassioned and riding farther and longer than ever.
See you down the road. Ride far, ride safe.