Something strange is going on at the motorcycle helmet maker Ruroc, and I can't quite figure out what, though it revolves around it going into administration—ala KTM—and then the company somehow buying itself. If you're confused, so are we.
Our friends over at Visor Down were the first to report on the strange goings on at Ruroc, but described the situation quite well, stating, "Helmet maker Ruroc has gone into administration, only to apparently have been rescued by itself." The whole thing started when Ruroc Limited went into administration, which is a fancy term for a company being just before bankruptcy, and looking for a solution to stop that outcome. An administrator from PricewaterhouseCoopers was then appointed, and within a week, Ruroc was sold to Tytan PG Limited.
That name shouldn't sound familiar to anyone, as the company was less than a week old itself. But here's the twist; Tytan PG Limited is wholly owned by Ruroc Global Holdings Limited. Do you remember that scene in Austin Powers where Austin goes, "Oh no, I've gone cross-eyed."? Yeah, that's us right now.
