Pidcock Motor Cycles Limited, an approved motorcycle retailer for a number of well-known manufacturers, has entered administration.
The Nottinghamshire business fell into financial difficulty following a challenging trading period linked to cost inflation and weak consumer demand.
Nathan Jones and John Lowe, partners at FRP Advisory, were appointed as joint administrators on 21st October 2024.
Through an accelerated sales process, the administrators have secured interest in the company’s BMW site and are currently considering offers from prospective buyers. The company’s Ducati and Triumph sites have been closed permanently.
18 employees have been made redundant across the two closed sites and are being supported with applications to the redundancy payments service.
Nathan Jones, joint administrator of Pidcock Motor Cycles and partner at FRP, said: “Pidcock is not the first retailer to struggle in challenging market conditions over the past year. The company is a reputable seller, partnered with some of the world’s best-known bike brands, and we’re not surprised that there has been interest from prospective buyers.
“While it’s unfortunate that a viable route forward for all three sites hasn’t been possible, we’re hopeful of a positive outcome for the Company’s BMW outlet. Securing that, as well as supporting employees affected by the closures, is our focus now.”
Sales from all of the company’s sites have been paused and a managed system put in place to allow owners to collect vehicles that have already been purchased. All customer deposits are being protected throughout the administration process and FRP plans to contact customers about how to collect either their vehicle or their deposit in the coming days.
