From the local press:
Redundancies confirmed and dealerships close in firm’s collapse
Jobs remain uncertain and important message has been sent out to customers
Two dealerships have closed after a long-standing motorcycle retailer collapsed into administration. Pidcock Motor Cycles Limited, an approved motorcycle seller for a number of well-known manufacturers, called in administrators following a challenging trading period.
The company has been operating and providing motorcycles in Beeston and Long Eaton since 1975, offering nearing 50 years of service. The demise is said to be linked to cost inflation and 'weak consumer demand'.
Nathan Jones and John Lowe, partners at FRP Advisory, have since been appointed as joint administrators, and confirmed the firm's Ducati Nottingham site in Queens Road, Beeston, and Pidcock Triumph site in Tamworth Road, Long Eaton, have been closed permanently.
The administrators say they have secured interest in the company’s BMW site in Fields Farm Road, Long Eaton, and are currently considering offers from prospective buyers.
As a result of the two sites closing down, FRP have announced that there will be 18 redundancies made with the permanent closure of Ducati and Triumph sites.
The administrators say employees have been made aware and "those affected by the closures will be supported with applications to the redundancy payments service"
Mr Jones said: "Pidcock is not the first retailer to struggle in challenging market conditions over the past year.
"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.
