Motorcycle virtual reality helmet makers - Skully after a long period of financial struggles have officially declared the end of business.
The company has been struggling to get back to business but lacked sufficient funds to revive the slowly crumbling company.
Over the years reasons why companies shut down is due to poor financial & Business management which in this case led to the shut down of production business for Skully.
The company is now filing for chapter 7 Bankruptcy...too bad,for this reason customers who have pre-ordered for the $1500 AR helmet Skully was working on would not be getting refunds...this would not be good news to customers though.
A number of sources inside Skully confirmed that the startup had run out of money and was trying to sell itself off to a subsidiary of Chinese conglomerate LeECo called LeSport. However, a number of disputes, including the possibility of an acquisition, how the founders were spending money and several manufacturing issues, caused a rift to form between the founders and investors.All of the companies assets are now subject to liens held by a secured creditor.
Amidst all Skully had something to say to it's affected customers,and it reads;
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.However, there is somewhat of hope for Skully’s customers. Smart bike tool maker Fusar has offered a credit equivalent for the whole amount any Skully customer paid for their AR-1 helmet under what it is calling the Skully Owners Stimulus (SOS) program.
