Peter Stevens dealerships close in Geelong, Ringwood
Don't miss out on the headlines from News. Followed categories will be added to My News.
Two major Victorian motorcycle dealerships closed at the weekend following the collapse of the Melbourne-based Peter Stevens retail group.
The stores and showrooms at Peter Stevens Geelong and Ringwood have not been sold and have shut permanently, administrators KordaMentha said.
And the City Triumph dealership which closed its West Melbourne showroom earlier this year will also not return.
The stores could not be saved although a large portion of the business has been taken over, securing 250 jobs.
Dozens of staff at the Peter Stevens sites at Mercer St, Geelong, and Maroondah Highway, Ringwood were only told on Friday of the closure.
And customers have been left in the dark over parts and accessories orders.
Triumph rider Richard Farrar ordered a $500 part from the Peter Stevens Geelong store but has no idea what's happened to his money.
'They obviously knew they were in trouble when I ordered … and it's bordering on obtaining my money deceptively,'' he said.
Peter Stevens went into voluntary administration last month saddled with debt, and last week it emerged that creditors faced losses of over $65m including millions in customer deposits.
The company was founded by the Chiodo brothers – Vince, Peter and Steve – in 1970 and grew into a national network of motorcycle stores and dealerships.
Flagging motorcycle sales and the cost of living crisis has hit the industry hard in recent years.
Some parts of the Peter Stevens group have now been taken over by private company Joe Rascal Group and ASX-listed MotorCycle Holdings.
The Joe Rascal Group has will acquire the Harley Heaven stores at Dandenong, Ringwood
and Melbourne, as well as Ducati South Melbourne.
And Brisbane-based MotorCycle Holdings will take over the Peter Stevens Dandenong
and Adelaide sites as well as Savage Motorcycles in Perth and the Harley Heaven dealerships in Sydney, Penrith, Perth and Adelaide.
MotorCycle Holdings chief executive Matthew Wiesner said the company would maintain the Peter Stevens and Harley Heaven brands.
The deals would mean about 250 employees would keep their jobs, Craig Shepard of KordaMentha said.
The administrators said it would assist employees from the closed locations 'during the transition to closure'.
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Peter Stevens dealerships close in Geelong, Ringwood
Don't miss out on the headlines from News. Followed categories will be added to My News. Two major Victorian motorcycle dealerships closed at the weekend following the collapse of the Melbourne-based Peter Stevens retail group. The stores and showrooms at Peter Stevens Geelong and Ringwood have not been sold and have shut permanently, administrators KordaMentha said. And the City Triumph dealership which closed its West Melbourne showroom earlier this year will also not return. The stores could not be saved although a large portion of the business has been taken over, securing 250 jobs. Dozens of staff at the Peter Stevens sites at Mercer St, Geelong, and Maroondah Highway, Ringwood were only told on Friday of the closure. And customers have been left in the dark over parts and accessories orders. Triumph rider Richard Farrar ordered a $500 part from the Peter Stevens Geelong store but has no idea what's happened to his money. 'They obviously knew they were in trouble when I ordered … and it's bordering on obtaining my money deceptively,'' he said. Peter Stevens went into voluntary administration last month saddled with debt, and last week it emerged that creditors faced losses of over $65m including millions in customer deposits. The company was founded by the Chiodo brothers – Vince, Peter and Steve – in 1970 and grew into a national network of motorcycle stores and dealerships. Flagging motorcycle sales and the cost of living crisis has hit the industry hard in recent years. Some parts of the Peter Stevens group have now been taken over by private company Joe Rascal Group and ASX-listed MotorCycle Holdings. The Joe Rascal Group has will acquire the Harley Heaven stores at Dandenong, Ringwood and Melbourne, as well as Ducati South Melbourne. And Brisbane-based MotorCycle Holdings will take over the Peter Stevens Dandenong and Adelaide sites as well as Savage Motorcycles in Perth and the Harley Heaven dealerships in Sydney, Penrith, Perth and Adelaide. MotorCycle Holdings chief executive Matthew Wiesner said the company would maintain the Peter Stevens and Harley Heaven brands. The deals would mean about 250 employees would keep their jobs, Craig Shepard of KordaMentha said. The administrators said it would assist employees from the closed locations 'during the transition to closure'.
