After 55 years of operation, popular motorcycle retailer collapses – putting 400 jobs into

A well-known motorcycle brand with dozens of media in Australia now faces unemployment rates.

Peter Stevens Motorcycles stocks popular brands such as Harley-Davidson, Kawasaki, Honda, Suzuki, Yamaha and Vespa, and entered voluntary management 55 years after its establishment in 1970.

Administrators Craig Shepard, Andrew Knight of Kordamentha and Michael Korda took control of the company.

“The administrator intends to continue operating the companies when they immediately express their interest in selling to businesses or reorganizing them,” Kordamentha said.

Shepard announced that the company has a “real turnaround opportunity”.

“With over 50 years of brand awareness, a nationwide established dealer footprint, a large portion of the local motorcycle market, there is a real turnaround opportunity here,” he said.

“These are strong foundations for new owners to build their business successfully for the future.”

The Federal Automobile Industry Conference said motorcycle sales fell by 3.5% between January and March this year compared to the same period last year.

Peter Stevens About 400 workers face unemployment

“Motorcycles are often a discretionary purchase, and in the current environment of high cost of living and interest rates, many Australians are more cautious about their spending,” said Tony Weber, CEO of FCAI.

“Although softening in all categories has changed slightly after the current economic situation, we would like to see the enthusiasm of Australian riders come back as conditions stabilize and even ease.”

Peter Stevens fell into administration, following other high-profile collapses in Australia’s retail industry.

The ASX-listed mosaic brand entered administration in October, failing to find a buyer, with 2,500 workers unemployed.