bonzobanana
Guru
Seems like the original owner sold when the market was at a high level with low interest rates so he got a fantastic price for the business. At that point the business was loaded with debt as it sounds like it was a leveraged buyout with the cost of buying being partly paid for by a debt on the business itself and then the interest rate rises. A good business set up to fail when the market hits a downturn.
I've bought a few things from their ebay surplus shop which I now see has pulled all listings. I bought a Barracuda road bike was was about £100 and a few racks that attach to the seat post.
Not sure if Barracuda is one of their brands or they were just a distributor. My guess is it was one of their minor brands of the past they bought the rights to.
At its core it's probably still a very good business so ideal to buy out cheap from administration and quickly continue it as if nothing had happened as much as you can do that to restore confidence. Did they operate on a sale or return basis. Many of their outlet products looked like simple shop returns. I'm guessing the main creditors will be a bank or banks who paid for the leveraged buyout and maybe the bicycle and bicycle component manufacturers in the far east.
Probably more foreign owned distributors will take up the slack and add to our burden of debt and collapse of core services in this country. Pretty much all bikes are made in the Far East but a huge number of people buy from foreign owned importers from the US and Europe which means more sterling to transferred to somewhere else in the world and the government borrowing more to fill the shortfall in our economy. Moore and Large were more of a simple importer, not high profile but some good value bikes which gave you support in your local cycle shop. A real shame a UK distributor/importer has gone.
I've bought a few things from their ebay surplus shop which I now see has pulled all listings. I bought a Barracuda road bike was was about £100 and a few racks that attach to the seat post.
Not sure if Barracuda is one of their brands or they were just a distributor. My guess is it was one of their minor brands of the past they bought the rights to.
At its core it's probably still a very good business so ideal to buy out cheap from administration and quickly continue it as if nothing had happened as much as you can do that to restore confidence. Did they operate on a sale or return basis. Many of their outlet products looked like simple shop returns. I'm guessing the main creditors will be a bank or banks who paid for the leveraged buyout and maybe the bicycle and bicycle component manufacturers in the far east.
Probably more foreign owned distributors will take up the slack and add to our burden of debt and collapse of core services in this country. Pretty much all bikes are made in the Far East but a huge number of people buy from foreign owned importers from the US and Europe which means more sterling to transferred to somewhere else in the world and the government borrowing more to fill the shortfall in our economy. Moore and Large were more of a simple importer, not high profile but some good value bikes which gave you support in your local cycle shop. A real shame a UK distributor/importer has gone.
) doesn't make them that much cheaper than new.
