Craig Shepard, Michael Korda and Andrew Knight of Korda Mentha Restructuring have been appointed voluntary administrators of motorcycle retailer Peter Stevens Motorcycles (‘Peter Stevens’).
Established in 1970, Peter Stevens is one of the biggest motorcycle retailers in Australia, with 15 dealerships across Victoria, New South Wales, South Australia and Western Australia. Its business includes new and used motorcycle sales, parts and accessories, servicing, and finance and insurance offerings.
Its dealer network comprises Peter Stevens Motorcycles, Ducati, Triumph, and Harley Heaven franchise dealerships. The dealerships are world-class facilities, offering a wide range of motorcycle brands at each location.
Peter Stevens represents eight of the top 12 selling motorcycle brands in Australia, including Harley-Davidson, Yamaha, BRP, Ducati and Triumph. Together, these brands comprise more than 85% of Australian motorcycle sales, with Peter Stevens selling around 8,000 units annually. It also stocks a diverse range of pre-owned motorcycles, selling around 2,000 units per year.
As a partner of BRP, Peter Stevens also supplies their market-leading watercraft product, the Sea-Doo, to the Australian market.
Last year, Peter Stevens had an annual turnover of around $250 million and currently employs around 400 people.
Shepard says the administrators would continue trading while seeking immediate expressions of interest in all or parts of Peter Stevens Motorcycles.
“With more than 50 years of brand recognition, an established dealer footprint across the country and a significant share of the local motorcycle market, there is a genuine turnaround opportunity here. These are strong foundations for a new owner to set the business up for future success,” Shepard says.
Parties interested in the sale of Peter Stevens Motorcycles should contact the Administrators at aryan@kordamentha.com for more information.
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