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Alan Price and Neil Marshman of insolvency practitioners, Marshman Price, have been
appointed administrators of Market Harborough-based Midlands Superbikes Ltd. The
company, which employed around 12 staff, had been experiencing serious cash flow
problems.
"It was necessary to put the company into administration to protect it from creditors and allow
time to consider whether it is possible for the business to be rescued," said Alan Price,
"Trading ceased on Tuesday before we were appointed. We have taken advice about its
viability and decided that we can not reopen the shop at the moment. This does unfortunately
mean there will be redundancies in the short term; however we are currently in talks with
parties who may be interested in taking over and starting up more or less immediately but I
cannot reveal who these are."
The company, which is based on St Mary's Business Park, has been around since 2002 and
is recognised as one of the Midlands' leading motorbike retailers. The administrators do not
have full details of its debts yet but will be reviewing the position over the next few days.
Mr Price added that a number of customers had given their bikes to the company on sale or
return and that he was taking steps to arrange for them to pick up their goods: "We will be
contacting those people as soon as possible with a view to making the appropriate
arrangements. Meanwhile they should contact us, preferably by email, to
midlandsuperbikes@marshmanprice.co.uk and let us have a copy of their sale or return
receipt."
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