Retail bike gear specialist Hein Gericke has gone into administration: Moorfields Corporate Recovery are handling the search for a new buyer. The online arm of HG had been the healthy side of the operation, and 47 stores across the UK amounts to a lot of shop floor to profitably occupy, so Moorfields’ current optimism that the whole operation can be salvaged may have to undego a spot of revision. Contrary to popular belief, HG was not a franchised operation, although store holders had a stake in the German parent company. The structure was more akin to a series of licencing deals, details of which we hope to clarify over the next few days.
Sadly, there may be consumer casualties. Some buyers will have paid for online transactions and already there are online claims that some of them have not received what they have paid for. We would advise any creditors to contact the administrators, whose details have been published on the HG home page.
All 47 stores are open for trading and details of a sale with ‘massive’ in house price cuts is due to be announced on the website Meanwhile we suspect that anyone popping into an HG outlet before then may be able to cut themselves an early piece of the action. Watch this space for updates.