LONDON, U.K. – One of Britain's biggest gear retailers has gone into administration, and a company appointed to oversee its affairs is seeking buyers.
Hein Gericke (UK) Ltd. was placed into the British equivalent of bankruptcy on July 30. The firm operates 49 shops across England, Wales, Scotland and Northern Ireland and provides catalog and online shopping services.
Administrator Moorfields Corporate Recovery is looking to sell the UK business as a going concern and is inviting interested parties to notifiy their interest Aug. 6.
The UK business is separate from the parent Hein Gericke.
“Hein Gericke (UK) Ltd is one of the leading suppliers of motorcycle accessories in the UK and has a well-established infrastructure in place that will allow a potential buyer to focus on generating sales,” said Simon Thomas, joint administrator at Moorfields. "Whilst the ongoing economic pressures have affected sales in recent years, I am confident the business model has a lot of potential with a dedicated customer base and staff who are obviously passionate about working for the company.”
Posted by Holly Wagner