Midlands superbikes gone into administration

[zobers]

Does anyone know any details about MSB going into administration? I can't say I'm surprised.

[ravingdavis]

Where did you hear this, there is nothing about it on their website?

[speedplay]

We were over there the other weekend and was suprised at some of the prices.
Didnt seem to be anything else different, just the lower, reasonable prices.

[Mr Speirs]

Was speaking to the guy a couple of weeks ago, he said he was selling bikes like hot cakes and was doing very well...so a little suprised.

[G]

Yeah he said he was shifting 30+ bike a week comfortably! He did say he kept spending more than the owner wanted him too.

I'll be a bit gutted as it's a right hand meet up point for a snack and a chat before hitting the local roads... Had some awesome times sat on their benches :(

[zobers]

I heard from a friend on facebook. She went over on Wednesday night and it was closed with signs up. Lots of men in suits going in and out and a sign up saying they are in administration.

I did check the website too but nothing is on there.

[orose]

Sounds similar to what happened at B&M Honda, although possibly for different reasons - all seemed well when we went down one day, and then 2 weeks later its "Did you know...".

On the other hand, you'd best keep your ear to the street in case there are bargains to be had - they were selling everything including the furniture when the liquidators went in up here.

[Dave20046]

Sounds similar to what happened at B&M Honda, although possibly for different reasons - all seemed well when we went down one day, and then 2 weeks later its "Did you know...".

On the other hand, you'd best keep your ear to the street in case there are bargains to be had - they were selling everything including the furniture when the liquidators went in up here.
Don't know if B&M were always crooks but saw some of their workmanship the week after they went down and some poor bloke was gutted his bike'd been rendered useless by them!

Unfortunately it's not the sort of thing companies mention even when they know it's coming. Bikes sell better when they think they're going to be looked after by the dealer and getting lots of deposits a few days before shutdown is a real bonus :toss:

[orose]

B&M closed because the partners wanted to go their separate ways, rather than being out of cash - think one of the partners runs a new dealership in the same estate, but in a smaller unit.

Still, its a pity to hear of another one going down - doesn't matter whether they were crooks or not.

[L3nny]

Anyone know if World of Bikes in Corby is still open? I was told that they were owned by the same people and that's where I got my bike from which still has a few monts warranty left.

It was a good place but some of their prices were crazy. When I was looking for an SV a couple of years ago they had curvies up for 3 grand!!

Was a good meeting place though, I wonder if they could just keep the butty wagon open.

[Lissa]

Anyone know if World of Bikes in Corby is still open? I was told that they were owned by the same people and that's where I got my bike from which still has a few monts warranty left.



AFAIK there was a split, and Big John went off to start World Of Bikes.

It's a shame if MSB has closed down. It was a good meeting point, somewhere to bimble to during the winter months, and a good place for people to test ride as they pretty much had one of everything. Would never have bought from them or had servicing done there tho!

[lily]

Yep been confirmed in this thread, I think by a former employee

http://forums.sv650.org/showthread.php?t=159083

[rob-the-blue]

I work very close to MSB in Market Harborough and can confirm 100% that it went into Administration last week. There has been an endless stream of people turning up to collect bikes and parts and being turned away empty handed. Also had one guy who had a £3500 cheque bouncing on him, that looks lost forever. There have also been plenty of traders turning up to collect their stock back that they are obviously owed for but the security guards on the gates seem to be putting a stop to their plans.

Very sad to see but I hope this clears things up for anyone who is interested

[L3nny]

AFAIK there was a split, and Big John went off to start World Of Bikes.

It's a shame if MSB has closed down. It was a good meeting point, somewhere to bimble to during the winter months, and a good place for people to test ride as they pretty much had one of everything. Would never have bought from them or had servicing done there tho!

Thanks Lisa.

World of Bikes isn't too far away and has a butty wagon so just go there instead and from the dealings I have had with big John he seems like a decent fella.

[Deveraux]

Interesting reading here (http://www.marshmanprice.co.uk/business-rescue-insolvency-news/101025-midlands-superbikes-administration.htm), though judging by some other forum comments there's a *lot* of unhappy people owed money and bikes. All in all not good news at all :confused:

[G]

Sale or Return... I would be cacking my pants right now if my bike was in there on that basis.

[Specialone]

TBH, they wouldnt have a leg to stand on as no v5 has changed hands or cash so the bike would still be legally yours.

March in there, get your bike and fook off :)

[G]

V5 is just proof of registered keeper, not ownership. The new red v5 state it even more clearly than the old ones.

[Specialone]

Still be yours though as no legal transaction has taken place, the admin couldn't prove a deal had took place without a paper trail at their end.
Besides it says on the admin website statement that that will arrange for the bikes to be collected by their owners , so I don't think there will be issues.

[EssexDave]

There are 3 main types of company insolvency.

Administration
Liquidation
Company voluntary arrangement

Liquidation means you get a liquidator to sell all stock, and distribute to creditors.

CVA is where they pay reduced payments to creditors to clear debts.

Administration is where administrators are bought in to continue running the business for the benefit of the creditors. Eg, they continue business, but slowly get smaller and smaller until it shuts.

This normally happens in public interest cases, or if there is a large benefit to creditors.

As such, I wouldn't panic too much at this stage, and more get on the phone and find out the facts.

[Deveraux]

As such, I wouldn't panic too much at this stage, and more get on the phone and find out the facts.

Choice, wise words. Well said :cool:

[rob-the-blue]

An update on this situation guys....

http://www.harboroughmail.co.uk/news/local-news/police_probe_into_motorbike_firm_1_1610921

Messy!

[barwel1992]

Messy!

sounds like a rite sh*t storm

[rob-the-blue]

Yeah big time!

We had a confused and annoyed German guy come into our work the other day who'd agreed to buy a bike from them and had driven all the way over in his van to pick it up...obviously when he arrived the place was deserted and he wanted to know what was going on! Wounder!!

[-Ralph-]

Wow, selling customers bikes then hiding the cash and telling the customer the bike was still in the showroom.

I nearly bought a bike from Midland Superbikes (MS) a few weeks before they collapsed and would have done had the bike been an ABS model. Glad I didn't.

Anyone who has bought a bike from MS needs to check if they actually own the bike. If it wasn't MS's bike to sell, but a customer, then they didn't have legal title to sell it, they were acting as an agent on behalf of the owner and they should be telling the buyer this, and be contacting the owner to inform and seek authorisation from them on any negotiations that take place. If the owner has not agreed to the sale, and the money never reached them, has the bike legally been sold, and does the new owner legally own it?

[G]

It's a wooly situation ownership.

If a customer gives the bike to dealer to sell and they then do so, then it's a done deal... The 'previous' owners issue is now with MSB, and they now need to speak to the loquidators about getting the money out of them.

SOR agreements are still a contract and a sale price is agreed with the seller... The only contact after that is to give them the money or the bike back... Sadly MSB did neither.

[Lissa]

I'd always wondered how MSB could have such a large stock of bikes. If quite a few of them were there as sale or return, that would explain it.

I feel really sorry for anyone caught up in this situation.

[cy8rm4n]

I do like the way the article did its best to tell you how to find the man you need to take it out on. Was all that stuff about where he lived really relevant otherwise?

[jamesterror]

Oh dear, their bikes were slightly over priced anyway..

[Dave20046]

MD's committed suicide according to MCN

[Specialone]

MD's committed suicide according to MCN
Dave, your a bit slow mate, this was reported a couple of weeks ago :rolleyes:

[Dave20046]

I did say I read it in mcn, infairness I expected it to be wrong alltogether...