SPEARFISH, S.D. - Unable to close a deal for a sale or merger or find new investors, Lehman Trikes Inc. has suspended operations.
“The company has not been able to complete the proposed sale it was working on, but is continuing to pursue possible transactions to inject capital into the company,” according to a press release. “Without such an injection the company is not able to continue the operations at its Spearfish facility and has taken the step of suspending operations until further notice.”
Unless the company, which makes trike conversions for Harley-Davidson bikes, can find new funding, the business may never reopen, the press release states. It had started laying off employees last November as it pursued a possible sale or merger. But that deal did not materialize and, without a cash infusion, the company may never reopen.
The company lost its founder, John K. Lehman, to heart failure in January.
Posted by Holly Wagner