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Wednesday, 1 August 2012

Hein Gericke in administration

Hein Gericke (UK), one of the UK's largest motorcycle clothing and accessory retailers with 49 shops across the UK has fallen into administration.  The company has a turnover of £18m and buyers are being sought for the company.  The UK shops are a subsidiary of the German based company that has shops all over Europe.  The firm blamed falling sales due to economic pressures for the failure of the business.

Administrators at Moorfields Corporate Recovery were appointed joint administrators on 30 July.

Hein Gericke, who was a German biker who started a shop in the 1970s  has stores in Birmingham, Nottingham, Leicester, Stoke, Northampton, Lincoln and Dudley in the Midlands.

In the year to 30 September 2011, Hein Gericke (UK) posted pre-tax losses of £1.3m on sales of £18.2m.

But Hein Gericke's administrator said it was confident it would find a buyer for the business, and that some interested parties had already come forward.

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