Completely Motorbikes... Gone into Administration...

[mboy]

As per the title...

Staff were texted and told not to come into work from 6am this morning as there would be an "official end of year stock audit" being conducted on thier multiple sites (yes, I have seen the actual text message, this isn't bullshit!) and all sites were closed to staff and customers today.

Meanwhile yesterday, Completely Motoring Group applied to go into Administration on Companies House.

Staff were told nothing.

Staff were still taking deposits off customers yesterday even!

Customers are understandably livid, but the way this has been done is highly disrespectful of both staff and customers to say the least...

Santander are in conducting their audits apparently, and working out what they can recover...

Hopefully nobody on here has any outstanding business with CM group, but if you do, then I suggest you get in touch with Santander ASAP to register your interest as a creditor, and/or if you have paid them anything to hurry up and register a Section 75 if you've paid any of it by credit card as soon as you possibly can...

Hearts go out to the many good staff over various locations! The owners have been taking everyone for a ride for some time now...

[Taff]

I was in J&S Gloucester which is next door to CM this afternoon, and there was quite a few people coming in asking why CM was all locked up.

I really feel for the businesses that have just been dragged under - like thunder road motorcycles who have just gone over to CM.

It's a sad day for them.

[Rockburner]

What's the betting that they'll be back again under a new name?

I remember Motorcycle City going under and reappearing as Infinity not too long after.

[mboy]

What's the betting that they'll be back again under a new name?

I remember Motorcycle City going under and reappearing as Infinity not too long after.

I don't see how they'd manage that... It's not just a handful of disgruntled customers who haven't got their money/bikes... Santander basically bankrolled the whole CM enterprise!

Santander will not only have a duty of care to all its customers to make sure they are not involved in any illicit business, but as a major financial institution they will be at pains to make sure everybody knows they are whiter than white.

Best case scenario is that some of the previously decent viable businesses that have been consumed by the CM group's greed in the last few years, are sold off to be run as individual going concerns yet again (Thunder Road venues, Skellerns, Ducati Worcester etc.) and those staff involved get to keep their jobs... Santander certainly don't want 2000 used bikes on their inventory, they are a bank after all!

I was in J&S Gloucester which is next door to CM this afternoon, and there was quite a few people coming in asking why CM was all locked up.

My mate went there this morning to pick up the bits off his old bike he PX'ed with them last week, and had a bit of a rude awakening! Said he asked in J&S too...

I really feel for the businesses that have just been dragged under - like thunder road motorcycles who have just gone over to CM.

It's a sad day for them.

Very much so!

I know most of the staff at what was Skellerns here in Worcester quite well myself, hoping they are OK right now...

[wheelnut]

I don't see how they'd manage that... It's not just a handful of disgruntled customers who haven't got their money/bikes... Santander basically bankrolled the whole CM enterprise!

Santander will not only have a duty of care to all its customers to make sure they are not involved in any illicit business, but as a major financial institution they will be at pains to make sure everybody knows they are whiter than white.

Best case scenario is that some of the previously decent viable businesses that have been consumed by the CM group's greed in the last few years, are sold off to be run as individual going concerns yet again (Thunder Road venues, Skellerns, Ducati Worcester etc.) and those staff involved get to keep their jobs... Santander certainly don't want 2000 used bikes on their inventory, they are a bank after all!

It’s nothing to do with Santander really. They and other creditors will just have to let the administrators deal with any assets the company has.

The caveat being that I imagine Santander (and possibly other investors) have probably got an outstanding charge in place which will mean they get preferential treatment from the administrators. Some directors may even have PGs in place.

[roadster]

So sorry for those who have lost livelihoods or are caught in the middle. Personally I seem to have had a narrow escape as I received my new Honda from Thunder Road at the beginning of last month. The service from the manager in Gloucester was excellent and I can only hope they come out of the mess with a viable business.

[mboy]

So a friend had a conversation with CM yesterday (they are open again, albeit sounds like they’re awaiting news on the situation of the Administration), asking for his deposit back on the bike he has ordered that still has no delivery date…

“Sorry sir, we don’t have the money to give it back to you, if you paid on a credit card you can pursue it with your credit card company under Section 75, but if there’s any other bike you are interested in that we have in stock, we will gladly take some more money off you if you would like us to”…

OK so I’m adlibbing, but that’s pretty much how he said the conversation went!

Kept his cool, phoned his card company immediately and is awaiting his deposit back… Fortunately he paid by CC (as you ALWAYS should do, at least a deposit, on ANY purchase between £100 and £30k), but I know CM generally encouraged customers to pay deposits and balances by bank transfer, for which there is no comeback at all!

[Bigyin]

Sounds very much like the local place called Superbike Warehouse who sold bikes and took deposits one day then closed the following day and anyone who had a new bike from them were told their warranty was now void as the company had ceased trading.

Its open again a couple of weeks later and now called Bigmoto, and from what i saw on companies house new directors, but i have yet to venture in for a mooch to see if its the same stock but a look at their website suggests it is as i recognize a Multi that was there a couple of months ago.

[Yorick]

Is this the same lot?...

https://www.completelymotorbikes.co.uk/bsb-about-us

[weeksy]

Yes

[Yorick]

Yes

Taking folk's deposits to pay the racing team?

Seems fishy.

[weeksy]

Yes

Taking folk's deposits to pay the racing team?

Seems fishy.

Yeah that was probably their business plan

[Bustaspoke]

The other day I heard that FS3 are still competing at the final BSB round at Brands,albeit with just the 1 bike as O'halloran's still injured from the Donington red flag incident.I think it will be a strange atmosphere in that pit box this weekend.

[The Spin Doctor]

They're not one of those outfits who offer to place bikes in their showroom to be sold on commission are they?

I've heard some horror stories about people handing their bikes over then discovering they've been seized by the administrators because the company documentation didn't list them as someone else's property and they were taken as company assets. They have had a devil of a time getting their bike back. In a few cases, the team appointed by the administrator to run the business pro tem sold the bike and they couldn't get hands on the cash!

[Taipan]

Yes

Taking folk's deposits to pay the racing team?

Seems fishy.

They'll probably rebrand as Billingsgate Bikes...

[Yorick]

Yes

Taking folk's deposits to pay the racing team?

Seems fishy.

They'll probably rebrand as Billingsgate Bikes...

Had to Google that but guessed it was in Shandyland

[Bustaspoke]

If a dealer goes into administration & has new bike's in stock,who owns the bike's,the dealer or the importer?
Just been doing some digital tyre kicking on Ebay & Completely motorbikes have a few adverts for new 650 Vstrom's.No doubt they're also advertising other bikes.

[Cousin Jack]

The Administrator! He may choose to try to sell them to generate more cash for other purposes.

As I understand it (I am not a lawyer) bankruptcy is a full stop, administration actually allows the administrator to carry on running all or part of the business if they think that will result in a better outcome for debtors.

[Bustaspoke]

Thanks for that,I wasn't sure as I didn't know if the dealers paid up front or paid for the bike at point of sale.

[Cousin Jack]

Thanks for that,I wasn't sure as I didn't know if the dealers paid up front or paid for the bike at point of sale.

I don't know either, I suspect it depends on the deal they negotiated. Some manufacturers may 'loan' the dealer bikes to sell, others may want the money up front. If I was Honda I would want money up front, if I was an unknown Chinese maker, anxious to get into the UK market, I might be more generous.