DISTRIBUTOR


‘THE CLOSURE OF MOORE LARGE IS A MAJOR SHOCK TO MANY IN THE INDUSTRY, WITH A NUMBER OF DEALERS SHARING THEIR REGRETS WITH BIKEBIZ’


administration on Tuesday, 14th March, resulting in a majority of staff losing their jobs. For most staff, the announcement came as a shock, but there had been some indication that all was not well at Moore Large.


Precursor In early 2023, the global economy had already put businesses, both inside and outside the bike industry, under significant strain. The ever-present Brexit headaches, and the increasing cost


of energy and fuel caused by Russia’s invasion of Ukraine, was already taking its toll on many companies. But businesses in the bike trade, particularly distributors,


were facing the enormous challenge of overstocking, as shipments of bikes and components delayed from the coronavirus pandemic began to land in British ports, just as bike sales began to hit the lowest levels for 20 years (see p8). In February, the UK bike trade gathered for its first major meeting of the year, COREbike at Whittlebury Hall in Northamptonshire, as many of the biggest distributors lined the hotel halls for the annual trade event, albeit with at least one major brand missing. At the last minute (we had even included them in the floorpan for the event in our COREbike preview edition), Moore Large had opted to pull out of the show. “When we heard about COREbike, it was weird,” one Moore


Large employee told BikeBiz, “probably one of the earliest red flags. We joked about digging out our CVs, but management seemed chirpy and continued with plans for 2024/5.” “Stock was still moving and efforts were being made to


modernise the ordering and admin systems,” they added. While Moore Large’s absence at COREbike was notable, a number of other show regulars had opted not to exhibit this year. On the eve of the show, news also emerged that Cornwall-based Silverfish had secured significant additional investment to help combat the economic impacts of overstocking and declining sales - an indicator that many in the trade were feeling the sting. In the weeks following COREbike, there were no major


developments at Moore Large, publicly at least. “The mood was positive but that may have been the general


acceptance of the trade,” said an employee. “The warehouse was emptying slowly and more space was


32 | April 2023


appearing which we thought was for consolidation, but I think it was actually that we weren’t able to ship new stock over.”


The announcement Then on the morning of Tuesday, 14th March, news began to emerge that something big was happening at Moore Large, and it became clear that the company had been entered into administration - “Moore Large just gone pop,” as one dealer put it.


BikeBiz understands that all office-based employees were


called to the Moore Large headquarters for 10am on Tuesday morning, while remote workers were dialled in via video call on a laptop. The directors began to explain the situation to staff, before


handing over to administrators who shared further details, and listed the skeleton staff that would be kept on to help wind down the business. “[The room was] very quiet, until a few spots of sobbing


leaked through. They explained their hunt for investors, and the reasons behind the troubled times. A few people asked questions, but it didn’t really settle in until we went back to our desks and started packing,” said one worker. Since the announcement, LinkedIn has been awash with


former Moore Large employees looking for new roles in the bike trade, while brands in the portfolio are sorting new arrangements and reassuring customers. The day after the Moore Large announcement one of its


brands, Lake Cycling, which specialises in road and off-road footwear, announced that it had established a UK wing of the company to serve the trade, led by UK sales director Richard Williams, the former UK and Ireland sales director with Moore Large. Meanwhile a new company, Cadence Active Limited, was incorporated on 9th February, with Moore Large headquarters as its correspondence address, and with the Moore Large directors listed as officers. The closure of Moore Large is a major shock to many in the industry, with a number of dealers sharing their regrets with BikeBiz. This closure is also the first stark indicator that concerns about the declining bike sales are not only genuine, but will have a serious lasting impact on the industry. BikeBiz has approached Moore Large for further details, but had not received a response at the time of writing. ●


www.bikebiz.com


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68