Marsh Holdings LTD

MARSH MOTORCYCLES LTD (T/A PLYMOUTH HARLEY-DAVIDSON & SOUTHAMPTON HARLEY- DAVIDSON)

SOUTH WEST MOTORCYCLES LTD (T/A TRIUMPH PLYMOUTH)

MARSH GARAGES LTD (T/A EXETER YAMAHA & MARSH USED CARS)

A Notice of Intention to Appoint an Administrator has been filed in Court with Jon Mitchell of Westcotts Business Recovery LLP being appointed as proposed Administrator.

The motorcycle industry has been hit hard with uncertainty in the economy, continued poor weather and tighter margins across its range. This has resulted in recent cash-flow challenges for the Group which it has tried to overcome.

The recent Budget announcement will also impact next years trading forecast with an additional £165k required to be found to meet additional minimum wage commitments, increased Employers’ NI contributions and increased rates across the Group’s dealerships.

All ongoing trading options have now been exhausted and the Group has been left with no alternative but to cease to trade and be placed into Administration to protect its position and mitigate loss to creditors.

A reduced workforce has been kept to help facilitate the return of customers’ motorcycles and assist in the orderly closure of the dealerships.

During the hiatus period and within the Administration, the Administrator will be working with Westcotts Corporate Finance team and appointed agents, Lambert Smith Hampton, to identify potential interested parties for the dealerships in Exeter, Southampton and two further dealerships in Plymouth, with the opportunity to purchase freehold interested in the two sites in Plymouth.

Parties who wish to express an interest in purchasing one or more of the dealerships should contact Will Mudd, Corporate Finance Director, via e-mail: Will.Mudd@westcotts.uk