Around 35,000 bikes will be auctioned off over the coming weeks as part of the administration of major cycling distributor Moore Large.
The long-standing British company, which was reported to have collapsed last week, is now selling off stock and assets valued at £35 million. The administrators, FRP advisory, have appointed Nottingham-based auction house John Pye & Sons to deal with the sales.
Of the stock being sold, there are around 35,000 bikes, valued at £25 million, as well as cycling accessories including clothing and helmets.
Moore Large previously stocked an array of brands, including Forme, Lake, Microshift, Barracuda and Vitesse, all of which are likely to turn up in auction lots.
“This is an opportunity for enthusiasts to potentially secure some big names bikes and accessories at a great price,” said Charles Loake, joint head of John Pye Business & Property. “We have the systems and knowledge in place to ensure we can sell the Moore Large & Co. stock with the highest level of efficiency and return for its creditors.”
Moore Large has been involved in cycling for more than 70 years, and was the subject of a management buyout in April 2022.
Speaking to DerbyshireLive, company director Adam Briggs noted that “significant discounts” after the Covid boom were a key factor of the brand’s collapse.
“Big demand led to a big increase in supply,” he said. “Then the supply caught up and lots of stock arrived in the first quarter of 2022. There was a year’s worth of bikes arriving in the UK at the same time which meant there was a massive oversupply.
“That triggered significant discounts at every level between 30% and 50%. People were still buying bikes but not at a fast enough rate for us to cover our costs.”
Moore Large’s stock will be gradually added to John Pye’s website, with online auctions commencing this Friday 24 March. Home delivery in the UK is available for all lots.
“It has been a very difficult time after we all worked so hard to save Moore Large,” Briggs said. “To all the staff, I really can’t thank them enough for their loyalty and commitment.”
Currently, a skeleton staff is being kept on at the Derby-based company to deal with the administrative process. It has been said that over 100 people are set to lose their jobs.
