[5] Therefore, on December 21, 1999, Excelsior-Henderson filed for reorganization under Chapter 11, Title 11, United States Code.
As an outcome of the process, certain assets of the company were sold to a Florida investment group, which later filed for reorganization and no longer exists.
[6] According to former employees, the company's failures can be attributed to ineptitude in growing a dealer network, micromanaging, and an unwillingness to accept and incorporate suggestion.
[7] Gary Fields, Deputy Commissioner of Minnesota's Department of Trade and Economic Development, said that the state would be less likely to fund another startup based on the failures of Excelsior-Henderson.
[7] In December 2020, Cycle World reported Excelsior-Henderson's intellectual property had been purchased by Bajaj, a major manufacturer of motorcycles in India.