Auction house appointed to sell off stricken bike distributor’s stock
John Pye & Sons has been appointed to sell the stock and assets of stricken bicycle distributor Moore Large & Co.
Raj Mittal and Nathan Jones from FRP Advisory were brought in to wind down the collapsed Derby bike business last Monday (13 March).
John Pye will be putting approximately 35,000 bikes with a retail value of around £25m and £10m worth of bike accessories up for sale. The items will be included in the Nottingham firm’s weekly auctions from today (20 March).
The range of cycles and accessories on offer include leading cycling brands Forme, Barracuda, Bikerton and Cuda. Items will be sold across all John Pye’s auction sites at Nottingham, Chesterfield, Port Talbot and Derby with nationwide delivery available on all stock.
The firm was appointed to sell some £30m of stock belonging to MADE.com when it collapsed earlier this year.
Charles Loake, joint head of John Pye Business & Property, said: “We have the systems and knowledge in place to ensure we can sell the Moore Large & Co. stock with the highest level of efficiency and return for its creditors. Our UK-wide footprint of close to 1,000,000 sq ft of sale space and a nationwide workforce of over 700 staff ensures we can handle the largest of insolvency cases.”
“Since Covid, cycling as a hobby as increased exponentially, so this an opportunity for enthusiasts to potentially secure some big name bikes and accessories at a great price”, he added.
The majority of Moore Large’s 103 staff have been made redundant, with 26 retained to assist in winding-down operations.