The closure of a Plymouth multi-franchise motorbike dealership could lead to huge unpaid debts
The collapse of a multi-franchise dealer in Plymouth could leave behind unpaid debts of around £2m.
Debts of around £2m could go unpaid as a result of a multi-franchise dealer recently going into administration.
Marsh Holdings Ltd, together with its subsidiaries ceased trading at the end of 2024, after failing to find the necessary funds needed to stay afloat. Administrators, through reports filed at Companies House, have allegedly confirmed that unsecured creditors will be left out of pocket by £2m.
Administrators at Westcotts Business Recovery are in the process of selling the Triumph and Harley-Davidson showrooms in Plympton for around £1.55m, however, that’s below the predicted market value of around £1.8m to £1.9m.
The money is expected to pay off a significant amount of the debt that’s still outstanding from when the company, and its subsidiaries, folded at the end of last year. The subsidiaries include South West Motorcycles Ltd, Marsh Garages Ltd and Marsh Motorcycles Ltd.
But the same reports claim a large amount is not expected to be paid, with administrators warning that unsecured creditors of the three subsidiary companies might not receive any compensation.
Dealership closures in the UK have been alarmingly high in recent months, with over 15 going bust during the second half of 2024 alone.
One of the biggest names that ended up closing its doors was Completely Motorcycles, which boasted a total of ten dealers across the UK.
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After graduating with a sports journalism degree, Robert joined Crash.net to lead the WorldSBK coverage in 2021, while also providing MotoGP coverage. Fulfilling that role for over three years, Robert was able to put his knowledge about all things racing to the test.
