Moto Morini ceases production

Italian manufacturer Moto Morini is reported to have ceased production and closed its doors.

The company, which launched its 2010 Granferro 1200 hypermotard at the Milan show last month went in to receivership earlier this year.

But despite its best efforts it has failed to turn round its fortunes, with debts continuing to mount. It has now closed its doors and is seeking a buyer.

It is the second Italian motorcycle company to come on to the market in as many months.

Harley-Davidson is looking for a buyer for MV Agusta after deciding to sell it and close subsidiary Buell as it faced financial disaster.