Re: Midlands superbikes gone into administration
 

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!

Re: Midlands superbikes gone into administration
 

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

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

Re: Midlands superbikes gone into administration
 

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

Re: Midlands superbikes gone into administration
 

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.

Re: Midlands superbikes gone into administration
 

Interesting reading here, 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:

Re: Midlands superbikes gone into administration
 

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

Re: Midlands superbikes gone into administration
 

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 :)

Re: Midlands superbikes gone into administration
 

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

Re: Midlands superbikes gone into administration
 

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.

Re: Midlands superbikes gone into administration
 

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.