Arrowcopter ( FD-Composites GmbH) bankrupt.
With accumalating payment obligations worth more than € 2.8 million in regards to less than € 147.000 assets the company was declared bankrupt by an Austrian court today and a bankruptcy proceedings were instituted.
High development costs, a thin distribution network and lack of sales seem to cause the meltdown. A 30 % debt repayment (the legal minimum offer) was proposed to the creditors by the company (FD-Composites GmbH ).
http://www.austrianaviation.net/news-re ... lvent.html
Arrowcopter bankrupt!
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Arrowcopter bankrupt!
Last edited by okflyer on Tue Aug 11, 2015 3:40 pm, edited 1 time in total.
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Re: Arrowcopter bankrupt!
Little birdie told me this may be very good news.
7 original members of AC have bought the rights and are continuing.
This means the R&D gets written off.
Perhaps we can expect to see AC's at half the price soon.
7 original members of AC have bought the rights and are continuing.
This means the R&D gets written off.
Perhaps we can expect to see AC's at half the price soon.
Re: Arrowcopter bankrupt!
Good or bad for the market place remains to be seen but I hope the product lives on for the sake of those with a vested interest.
These things all start off as someone's dream but sadly this will now be a shattered dream for the founder/s of Arrowcopter. I sympathize.
These things all start off as someone's dream but sadly this will now be a shattered dream for the founder/s of Arrowcopter. I sympathize.
Mike Gill
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