Looks like Skully Helmets may be shutting down. Reports are coming in (from anonymous sources in the company) that Skully may be shutting down for good very soon. This is on the heels of the recent departure of the two company founders Marcus and Mitch Weller. If this is true this does not bode well for those who had pre-ordered a Skully AR-1 helmet. At nearly $1,500.00 a pop, that’s going to sting. Hit the link below for the full story over at AutoEvolution.
Today, August 8th, Skully officially announced their shutdown:
It is with great regret we must announce that SKULLY will formally cease operations, effective immediately. Over the past several weeks our management team has worked feverishly to raise additional capital but unforeseen challenges and circumstances, beyond our control, made this effort impossible. What this means now is that SKULLY will no longer be able to ship AR-1 Units or process refunds directly.
Substantially all of the assets of SKULLY are now subject to liens held by a secured creditor. The management team does not know if there will be any value above the amount of the secured debt. In addition, at this time, we are not aware whether there will be any distribution amounts available to unsecured creditors. SKULLY now plans to file a Chapter 7 Bankruptcy case within the next several weeks. You will receive notice from the Bankruptcy Court and instructions on how to file a claim.
Our team is devastated and deeply saddened that our valued partners, vendors, employees and customers have been negatively affected by what has transpired. We realize there are many unanswered questions and that this is a very upsetting situation. We are truly sorry.