Holeshot Motocross Limited (07564496): administration
- Status
- Administration ended
- Administration began
- 2023-10-06
- Administrators
- Stephen Powell, Simon John Lowes
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2011-03-15
- Location
- Southampton
- Industry
- 47990 Other retail sale not in stores, stalls or markets
Why it went into administration
- Property / lease costs
- Rising interest rates
- Over-expansion / investment not recovered
From the administrators' statement
The Company has historically been profitable and has grown since incorporation from an independent supplier of used off-road motorcycles to becoming a major dealership offering new motocross and enduro bikes and accessories from major brands including Kawasaki, Honda, KTM Husqvarna and GasGas among others based in Salisbury. This growth led to the opening of a dealership in Yeovil and further expansion plans in 2022.
In the autumn of 2022, discussions commenced with an interested party with regards to investing in and growing the Company.
Around this time, the market started to change as a result of the economic fallout from the Liz Truss government. Interest rates started to rise consistently and eroded profit margins. Eventually these interest rate rises were costing the Company in the region of £40,000 per month.
Administrators' statement of proposals (2023-11-22) · Companies House register