It's hard to know what direction the powersports market is going. Just a year ago, Polaris laid off a massive chunk of its workforce, and it looked like more layoffs were likely this year, but then BRP recorded a ridiculous 150% increase in year-over-year revenue in Q3 this year.
Now, to muddy the waters even further, a well-established Florida-based powersports dealer has filed for Chapter 11 Bankruptcy.
The company is Cycle Sport Center, Inc., which is an Orlando-based powersports dealership that recently filed for Chapter 11 bankruptcy in the hopes of restructuring its debts while continuing to operate normally. Filing for Chapter 11 bankruptcy, as the US e-bike company Rad Power Bikes did recently, is a voluntary move, and records show that the petition was submitted on December 29 in the U.S. Bankruptcy Court for the Middle District of Florida.
