Customers of the collapsed UK cycle distributor Moore Large have been advised to contact their credit or debit card companies if they used cards to pay for those goods.
The long-running British distributor of brands including Lake shoes, Tern and Forme bikes entered administration on Monday.
The company told staff the following morning.
In an update on the administration posted on the firm’s website, Rajnesh Mittal and Nathan Jones, administrators at FRP Advisory Trading, said that customers who had brought goods that were “not going to be received by the due date” on cards should enquire about claiming the money back from their card issuer.
They also said fellow customers that Moore Large owed money to should contact a dedicated email address to be registered as a creditor to the now defunct firm.
The accountants added that the remaining stock and assets of the company would be sold by auction house John Pye & Sons.
The news comes as industry publication BikeBiz reports Lake shoes has within days set up its own sales operation in the UK following the collapse of Moore Large.
Lake director, Christian Van Asten told the publication he was “excited and extremely happy to announce Lake UK today, and to continue to grow the UK business, bringing the legendary Lake comfort and performance to even more cyclists”.
The Derby–based wholesaler had been involved in cycling for more than 70 years, since John Moore setting up the first shop in Rickmansworth in 1947. The company combined Puch distributor Cliff Large in the mid 1970s and began trading under the Moore Large name.
Last April Moore Large went through a management buyout, with its board of directors Dale Vanderplank, Adam Garner, Adam Biggs and Andrew Walker, acquiring the business.
They took full shareholding of the business from the Moore family.
According to the Moore Large website, it had “already embarked on a business-wide revision of our systems and processes to achieve ambitious growth goals that align with the requirements of our customers, their end customers, and the cycling industry as a whole” prior to its collapse earlier this week.
Moore Large’s collapse followed a series of UK firms going to the wall as consumer spending feels the pinch of inflation and the struggling British economy. Earlier this year UK clothing brand VeloVixen went under before being brought by the company behind fellow UK firm Stolen Goat.
Then another British kit company Milltag went bust. And most recently another boutique brand Presca went to the wall.
— to sports.yahoo.com