They create some of the most stunning motorcycles on the planet, but financial strife has never been far from MV Agusta’s front door.

MV Agusta could be on the verge of closing its doors after filing for Chapter 11 Bankruptcy in the Italian courts. A Chapter 11 is unlike a traditional bankruptcy, more a request for financial breathing space where loans are frozen, time is granted to allow the company to get back on its feet and give them a chance to save what positive assets are left.

The past 24 months have been somewhat positive for MV Agusta, with 25 percent of ownership now in the hands of Mercedes AMG and solid growth thanks to a claimed 30 percent increase in international turnover, new models and more competitive pricing. However, this doesn’t appear to be enough to stem the tide of growing creditors lining up to be paid at the Varese manufacturing plant.

It’s yet another sad scenario for MV Agusta, a company that’s changed hands numerous times since being revived by the late Claudio Castiglioni 20 years ago. Harley-Davidson tried to get the famous MV brand revving again, as did four-wheel concern Proton. The company is now back in Castiglioni hands in what proved Claudio’s last business move before his death in 2011 with his son Giovanni at the helm.

MV Agusta recently started development of a series of three-cylinder machines to match its long-standing heritage with the triple engine configuration and has seen some success in the World Supersport arena with Frenchman Jules Cluzel taking a number of WSS wins on the beautiful F3 675. It’s been a more trying time in Superbike, with Leon Camier on the four-cylinder F4 now in his second full year with the company and in a seemingly constant struggle to match the speed of Ducati and the Japanese manufacturers.

MV Agusta recently launched the Turismo Veloce 800 sport touring machine in an effort to expand their predominantly sport and nakedbike based line up, with an adventure machine also rumored to be coming late this year. This, however, now seems on the back burner as Castiglioni fights to save what is left of his company, and the jobs of his workers.

F3 675

F4 Superbike