Biker clothing chain Hein Gericke in administration
The company, which operates 49 shops and a catalogue and online shopping service, went into administration on Monday due to "difficult trading conditions." All stores are being kept open for the time being with closing down sales launched in-store.
Appointed administrator, Moorfields Corporate Recovery, is looking to sell the UK business as a going concern and is inviting interested parties to get in touch by 6 August. The UK business is separate from the parent company, which operates shops across Europe, trading within the UK under a license agreement with the German based parent company.
Simon Thomas, joint administrator at Moorfields Corporate Recovery, said: "Hein Gericke (UK) Ltd is one of the leading suppliers of motorcycle accessories in the UK and has a well-established infrastructure in place that will allow a potential buyer to focus on generating sales. Whilst the ongoing economic pressures have affected sales in recent years I am confident the business model has a lot of potential with a dedicated customer base and staff who are obviously passionate about working for the company."
Founded by German biker Hein Gericke in the 1970s, the business is now the largest motorcycle dealership in Germany. In addition to the UK, it operates retail stores across Germany, Austria, Belgium, Netherlands, Italy, and Luxemburg.
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