Motorcycle Stuff, the Morgan Hill, Calif., distributor of parts and accessories for metric motorcycles, ATVs and other powersports equipment, plans to close its doors after 37 years in business, Dealernews has learned.
The company is going to begin liquidating inventories, and it's expected to shut down operations by the end of August. The company said it plans to focus on its "core strengths" in the American V-twin segment.
Motorcycle Stuff is one of three major subsidiaries operated by Global Motorsport Group, Inc., (GMG). The other two companies are Custom Chrome and Custom Chrome Europe. Other operating units of GMG include Custom Chrome Asia, Santee and Jammer.
No further details on the shutdown were available today, and company executives were not available for comment.
The Motorcycle Stuff closing is the latest in a series of stunning happenings since January at GMG, the struggling distributor based in Morgan Hill, that includes the departure of several top executives, included Nace Panzica.
Panzica, the man who founded Custom Chrome, Inc., nearly four decades ago and who moved in to revive the company as it plunged into bankruptcy this year, stepped down as CEO. June 6 was his last day as a full-time employee, although he may provide consulting services to the company, a spokesman said.
Holger Mohr, who heads Custom Chrome Europe, has replaced Panzica as CEO and continues to head up the Custom Chrome operations in Europe as well.
Panzica was not available for comment on his departure.
Steve Vestri, VP of sales and marketing for GMG, said Panizica's departure was a planned move when the company was purchased from Cerberus Capital Management LLP by Dae-Il USA, Inc., during GMG's bankruptcy proceedings. Panizica's employment by GMG was not planned to be a long-term situation, Vestri said at the time of Panzica's departure. For more on the GMG purchase by Dae-Il, click here.
Also leaving GMG in recent months were long-time executive Frank Esposito, Maureen Shilling, CFO, and John Alden, director of the company's supply chain operation. For additional details on the departure of these executives, click here.
In 1971, Motorcycle Stuff was started by Jim Dodd as a family-operated business, out of the basement of his home. In addition to operating Motorcycle Stuff, the Dodd family operated a Suzuki dealership.
In 2000, Motorcycle Stuff was acquired by GMG, and much of its operations were moved from its headquarters in Port Cape Girardeau, Mo. This relationship allowed the company to offer customers more purchasing and service options and more extensive distribution facilities. Customers were able to take advantage of Custom Chrome's services for Harley Davidson's when they become a Motorcycle Stuff dealer.
Today, GMG operates three warehouses in Missouri, Pennsylvania and California.