KEY FACTS
- Relocate 31,500 Bikes and 938,417 Accessories (£10.5m cost)
- Target end user following pandemic market saturation
- Relocation restrictions
- Duty owed of £1.0m, on stock held in 215,000 sqft bonded warehouse
- Occupation costs £114,000 per month
- License agreement insolvency clauses, restricting sales
- Portfolio of owned Trademarks & Domains
- Valuation of stock & IP
- Link Companies CCTV to John Pye 24hr Security
- Source Customs officer to progress stock release
- £500,000 advance payment offering within two weeks of collection
- Sale negotiation on licensed brand stock
- Create web page for stock enquiries. Results = 450,000 click throughs & 18,500 mail sign ups
- Target free Press coverage; Cycling News, Cycling Weekly, Retail Bulletin
- Social Media Campaign, resulting in 3,000 registrations
- Marketing sale of I.P
- ROT Segregation
- Calculate DUTY per load
- Pick and mix stock for John Pye’s UK sites 163 Trailers
- SoldT P&M
- Data Cleanse
- Hazardous waste removal – Batteries 1,786 kg
- Built a product barcode scanner, capturing original web listing for lotting purposes.
- Nationwide delivery on auction purchases extending market reach
- Restrict salerooms – 300 bikes, 10 models each per auction protecting value
- Achieved valuation – Sales to date £3m
- Achieved – 33% of cost
Relocate 31,500 Bikes and 938,417 Accessories (£10.5m cost)- Target end user following pandemic market saturation
- Relocation restrictions
- Duty owed of £1.0m, on stock held in 215,000 sqft bonded warehouse
- Occupation costs £114,000 per month
- License agreement insolvency clauses, restricting sales
- Portfolio of owned Trademarks & Domains
Valuation of stock & IP- Link Companies CCTV to John Pye 24hr Security
- Source Customs officer to progress stock release
- £500,000 advance payment offering within two weeks of collection
- Sale negotiation on licensed brand stock
Create web page for stock enquiries. Results = 450,000 click throughs & 18,500 mail sign ups- Target free Press coverage; Cycling News, Cycling Weekly, Retail Bulletin
- Social Media Campaign, resulting in 3,000 registrations
- Marketing sale of I.P
ROT Segregation- Calculate DUTY per load
- Pick and mix stock for John Pye’s UK sites 163 Trailers
- SoldT P&M
- Data Cleanse
- Hazardous waste removal – Batteries 1,786 kg
- Built a product barcode scanner, capturing original web listing for lotting purposes.
- Nationwide delivery on auction purchases extending market reach
- Restrict salerooms – 300 bikes, 10 models each per auction protecting value
- Achieved valuation – Sales to date £3m
- Achieved – 33% of cost
OVERVIEW
Joint administrators Raj Mittal and Nathan Jones appointed us to put Moore Large stock and assets up for auction in early 2023. Moore Large’s inventory included, approximately 35,000 bikes with a retail value of £25 million, along with £10 million worth of bike accessories.
Brands including Forme, Barracuda, Bickerton, Cuda and others were distributed across our auction sites at Nottingham, Chesterfield, Port Talbot and Derby.
Charles Loake, Joint Head of John Pye Business & Property said: “We have the systems and knowledge in place to ensure we can sell the Moore Large & Co. stock with the highest level of efficiency and return for its creditors. Our UK-wide footprint of close to 1,000,000 sq ft of secure sales space and a nationwide workforce of over 700 staff ensures we can handle the largest of insolvency cases. Since Covid, cycling as a hobby as increased exponentially, so this an opportunity for enthusiasts to potentially secure some big name bikes and accessories at a great price.”