Difficult trading conditions have forced one of the UK’s largest off-road motorcycle dealers to close its Salisbury branch, resulting in the loss of five jobs.
Holeshot Motocross Limited, which sold motocross and enduro bikes along with accessories, closed its Stephenson Road site on September 20.
Simon Lowes and Stephen Powell, partners at business rescue and restructuring specialist Begbies Traynor Group, were appointed joint administrators on October 6 and efforts are now underway to sell all remaining stock.
According to Simon Lowes, from Begbies Traynor’s Southampton office, the firm had experienced significant difficulties in the past 12 months due to reduced margins on bike sales and the increased cost of finance.
“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,” he said.
The auction runs until October 19 and prospective buyers are able to view items in person by appointment on October 18 between 10am and 4pm and make bids online here.
Holeshot Motocross was incorporated in 2011 initially as a used motorbike dealer. It later obtained agreements with major suppliers and began selling new bikes manufactured by brands including Kawasaki, Honda, KTM, Husqvarna and GasGas among others.
The business also had a branch in Yeovil, which closed in the summer, and had been looking to move into Southampton.
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