Bike dealer forced to close with multiple job losses after costs soar
A MOTORBIKE dealership has been forced to close, putting several people out of work.
Holeshot Motocross, which specialised in motocross and enduro bikes, in Salisbury, Wiltshire, closed its doors for the final time on September 20.
The closure has meant five people have lost their jobs.
Administrators at Begbies Traynor were appointed on October 6, Business Live reports.
The firm, which specialises in business rescue and restructuring said the process was now underway to sell off the company’s remaining stock.
Simon Lowes, based at Begbies Traynor’s Southampton office said Holeshot Motocross had experienced “significant difficulties” over the past 12 months, suffering from reduced margins on its bake sales and the increased cost of finance.
Lowes said: “It’s been a challenging year for the business and rises in the base rate have impacted on the cost of borrowing, hitting sales.
“We’re working with our partners at Eddisons, who are overseeing an auction of unencumbered stock with the aim of achieving the best possible return for creditors.
“Items on sale include a wide range of motorbikes and associated items such as helmets and clothing.”
Holeshot Motocross stated life as a used motorbike dealer in 2011.
But over the years it forged agreements with major suppliers and started selling new bikes by brands such as Honda, Kawasaki, KTM, Husqvarna and GasGas as well as others.
The firm also had a branch in Yeovil, Somerset, which closed in the summer, and had been looking to move to Southampton.
It comes just days after a major car dealerships made a significant change to its opening hours.
Lately, there has been a string of dealerships announcing cutbacks or even they were closing down permanently.
One outlet even failed to inform customers, with motorists only discovering the closure when they turned up to have their cars serviced.
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