# Metropolis Motorcycles Limited (02956403)

> Why UK company 02956403 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/02956403

- **Status:** Administration ended
- **Administration began:** 2018-10-01
- **Incorporated:** 1994-08-08
- **Location:** Norwich
- **Industry:** 45400 Sale, maintenance and repair of motorcycles and related parts and accessories

## Why it went into administration

- Property / lease costs
- Sustained trading losses
- Competition / price pressure

## From the administrators' statement

lan Waldock, Andrew Hale and Neil Batcheler formed the business and partnership trading as Metropolis Motorcycles on the 1st March 1993 and subsequently in August 1994 incorporated the limited company Metropolis Motorcycles Limited. Shortly after incorporation Neil Batcheler retired from the business and sold his shares to lan Waldock and Andrew Hale, leaving them as the only directors and shareholders. The Company's main source of revenue was from the sale of new Piaggio (Vespa) scooters, second-hand scooters and motorcycles however it also provided vehicle servicing, parts, clothing, helmets and motorcycle and scooter riding tuition.

The Company achieved turnover of approximately £1.2 million in its first year which steadily increased year on year to surpass £10 million in 2000 and then maintained turnover of between £10-£12 million up to the end of 2017. During the initial period of growth and expansion the Company inherited new motorcycle franchises of Triumph, Yamaha, Suzuki and also became agents for Ducati, Kawasaki and Honda.

As the business grew so did the overheads and given the seasonal nature of sales this usually created a cash flow issue during the winter months. As a result, the Company would negotiate to have its rolling overdraft increased to cover costs through this period. In addition the directors would occasionally have to inject personal funds on a loan basis however these were always repaid when the Company was able to do so.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/02956403/filing-history/MzIyMTI5MjM3NGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/02956403

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.