Thread To Discuss The Briggs & Stratton Co. Re: Filing Bankruptcy

[Orson_Yancey]

I want to start a thread. As many of you probably already know, Briggs filed bankruptcy on July 20, 2020.
I hope that there is some way that Briggs can come-out of bankruptcy and survive. I hate to see an American
Icon disappear. Many of us grew-up with these engines as part of our most enjoyable past-times.
If Briggs does disappear, that does not leave us with any American companies manufacturing small engines
for yard equipment, lawn mowers, and snowblowers. Briggs has been a great company for more than 100
years.

 

[Steve73]

Those engines are not going away. Dont worry it will continue operations thru this whole process.

 

[Steve73]

Headquartered in Wauwatosa, Wisconsin, publicly traded (NYSE: BGG) Briggs & Stratton Corporation is the world's largest producer of gasoline engines for outdoor power equipment and is a leading designer, manufacturer and marketer of power generation, pressure washers, lawn and garden, turf care and job site products. Engines are used primarily by the lawn and garden equipment industry. Revenue for the twelve months ended March 29, 2020 totaled $1.7 billion.

Briggs & Stratton Corp. declared bankruptcy, felled by weak sales, too much debt and a final push over the edge from the coronavirus pandemic.
The world’s biggest maker of gasoline engines for outdoor power equipment sought protection from creditors in a St. Louis bankruptcy court on Monday, citing debts of more than $1 billion. The filing included a $550 million bid for the company from KPS Capital Partners, a New York private equity firm, which promised to keep Briggs & Stratton in business without the crushing debt that plagued the century-old company.

Acquisitions Planned
“KPS intends to grow the new Briggs & Stratton aggressively through strategic acquisitions,” said Michael Psaros, co-founder and co-managing partner of KPS, in a statement. “The new Briggs & Stratton will be conservatively capitalized and not encumbered by its predecessor’s significant liabilities.”