The majority of the 100-plus workforce at a Derby bike distributor have lost their jobs after the business went under.
The jobs have gone after Moore Large, which is based in a 215,000 sq ft building on the Sinfin Industrial Estate, ceased trading. The business has said it will not be able to fulfil any outstanding orders or provide refunds to customers. Anyone owed money has been invited to submit claims to FRP Advisory which is dealing with the administration.
Moore Large has been supplying bikes and accessories to independent bike shops since the 1940s. It was the subject of a multi-million pound management buyout only last year, and supplied brands such as O’Neal, Lake, Tern, WeThePeople, Alpina, Kenda and Jagwire, alongside its house brands Forme bikes and Everything to Cycling.
It is understood the majority of the 103 staff have now been made redundant with 26 kept on to help wind down the business.
Joint administrator Raj Mittal said: “Between inflation, exchange rate fluctuations, dampened consumer demand and supply chain issues, Moore Large & Co faced significant and sustained challenges.
“No doubt, many other businesses in the sector will be feeling similar pressures.
“Despite the directors’ efforts to save the company, crucial investment couldn’t be secured.
“Unfortunately, the financial state of the business meant that it could not keep trading and we’re now moving towards an asset sale.
“Our specialist employment team is on hand to support all impacted staff as they make claims to the Redundancy Payments Service.”
The administrators have appointed Nottingham-based John Pye & Sons to dispose of the stock and assets.
