In the wake of challenging trading months, administrators for Moore Large have appointed us to auction its £35 million stock. The move raises concerns of an influx of discounted bikes and accessories into an already saturated market.
Joint administrators Raj Mittal and Nathan Jones have enlisted John Pye Auctions to handle the sale, a company known for its recent collaboration with PwC in selling MADE.COM Design Limited’s £30 million-plus UK stock holding.
Moore Large’s inventory, valued at £35 million, includes approximately 35,000 bikes with a retail value of £25 million, along with £10 million worth of bike accessories. These items will enter John Pye’s weekly auctions starting from the week commencing March 20th.
Brands such as Forme, Barracuda, Bickerton, Cuda, and others will be available at John Pye’s auction sites in Nottingham, Chesterfield, Port Talbot, and Derby.
Charles Loake, Joint Head of John Pye Business & Property, assured efficient and high-yield stock liquidation, citing their extensive UK-wide footprint and workforce. Loake noted the surge in cycling as a hobby post-Covid, presenting an opportunity for enthusiasts to acquire top-tier bikes and accessories at attractive prices.