At the beginning of February we reported once more on the financial troubles Spanish manufacturer Gas Gas was struggling with. Production had come to a halt, with some 500 workers remaining in standby and expecting CEO Yariv Gilat to find a way to solve the company?s lack of liquidities.
Silence fell over Gas Gas? production line, as the company stopped manufacturing both bikes and spares, and even shutting off its R&D department temporarily. Gilat was trying to source some 24 million Euros ($27.4 million) to get things going, but so far the company is kept alive by governmental help, and we all know this can?t last forever. Gilat was confident that February might bring a deal with an investor.