The closure of a motorbike dealership in Plymouth could lead to huge unpaid debts

Debts of around £2m could go unpaid as a result of Triumph and Harley-Davidson showrooms recently going into administration.

Dealership closures in the UK have been alarmingly high in recent months, with over 15 going bust during the second half of 2024 alone.

One of the biggest names that ended up closing its doors was Completely Motorcycles, which boasted a total of ten dealers across the UK.

Now, there are reports of a company previously in charge of Plymouth and Exeter-based dealerships that are leaving behind significant debts that could be unpaid.

Marsh Holdings Ltd, together with its subsidiaries ceased trading at the end of 2024, after failing to find the necessary funds needed to stay afloat. Administrators, through reports filed at Companies House, have allegedly confirmed that unsecured creditors will be left out of pocket by £2m.

Administrators at Westcotts Business Recovery are in the process of selling the Triumph and Harley-Davison showrooms in Plympton for around £1.55m, however, that’s below the predicted market value of around £1.8m to £1.9m.

The money is expected to pay off a significant amount of the debt that’s still outstanding from when the company, and its subsidiaries, folded at the end of last year. The subsidiaries include South West Motorcycles Ltd, Marsh Garages Ltd and Marsh Motorcycles Ltd.

But the same reports claim a large amount is not expected to be paid, with administrators warning that unsecured creditors of the three subsidiary companies might not receive any compensation.

Find the latest motorbike news on Visordown.com.