T-Rex Maker Campagna Files For Bankruptcy

Campagna, the company responsible for building the three-wheeled T-Rex, has filed for bankruptcy protection, Jalopnik reports.

Information from consulting firm PricewaterhouseCoopers reveals that the Quebec, Canada automaker filed for bankruptcy in early August. The company has since submitted the proposal under the Bankruptcy and Insolvency Act and will be put up for approval in court on November 15.

In an email exchange with Jalopnik, Campagna president Andre Morissette revealed that the company won’t be liquidating any assets during the process and that it is simply discharging debt and re-structuring its finances with creditors.

According to Morissette, the company was recently affected by a delay in deliveries of engines from BMW.

“[These problems] were related in parts by our tight cash flow situation and in other parts by events outside our control (strike at BMW in Germany, bad timing on people in vacation that stalls shipment for weeks etc..),” Morissette wrote by email.

“These events are not the cause of our situation, they just did not help us in delivering the calendar of orders we had and created cash flow issues.”

The company has been building the T-Rex for more than two decades and was founded by F1 mechanic Daniel Campagna and car designer Paul Deutschman.

Earlier this year, the company revealed that it was working on a three-wheeled roadster powered by an electric powertrain sourced from Zero Motorcycles. Campagna intended on commencing testing of the electric T-Rex this summer but it remains unclear if the company’s cash issues have delayed these plans.