BIRMINGHAM, Ala. – Red Mountain Motorsports is back from the brink, having worked out a deal with creditors after filing for Chapter 11 bankruptcy in early April.
But the BMW, Moto Guzzi and Triumph dealer is still looking for a new home. A note on the shop’s website reads: “We regretfully inform you that we are no longer at 7500 Crestwood Blvd. We are diligently working on a new location. We will update our website with new information as it becomes available.”
Red Mountain Motorsports filed bankruptcy April 9, listing assets and liabilities both within the $1 million to $10 million range. A motion to dismiss was filed April 14.
"They've already worked out what they need with their creditors and are prepared to move on without Chapter 11," the dealership’s attorney. Steven Altmann, told the Birmingham Business Journal. He expects the bankruptcy to be dismissed at a May 13 hearing.
At one point, the company considered moving near Barber Motorsports Park. An employee told the Business Journal that option is still on the table.
Posted by Holly Wagner