Peugeot distributor Three Cross Motorcycles go into administration | NEWS
Sad news reaches us this evening as well respected dealership and importer, Three Cross Motorcycles goes into administration. The family-run business has been in operation since 1978. Scooter riders will be most familiar with them for importing Peugeot scooters into the UK.
On behalf of ScooterLab we’d like to wish Richard Davies and family all the best for the future. Sadly another victim of Covid-19. You can read the official statement below. If we get any more information we’ll let you know.
Three Cross Motorcycles in administration
Three Cross Motorcycles is being placed into administration.
Founded in 1978, the Ringwood-based dealership has held the Triumph motorcycles franchise in Dorset since 1991 and began importing Peugeot scooters into the UK in 1995, today supplying a network of around 200 dealers.
KRE Corporate Recovery of Reading have been appointed as administrators and are actively seeking a buyer for the business.
The Davies family, who have run Three Cross for the past 40 years, have released the following statement;
“We are writing this with deep sadness and regret at the situation Three Cross Motorcycles Ltd finds itself in. Three Cross has a long and proud history in the motorcycle business, filled with great stories and so many achievements, together with some lows and exceptional challenges. For over 40 years we have withstood the hard knocks that came our way, but the final blow from Covid-19 has brought us down.
After two hard years, we had restructured and had a positive budget to return us to profitability in 2020. At the end of February we were on target and had a good order bank of retail and wholesale bikes for March/April delivery. However, our expectations of a Spring time recovery have been swept away by the Covid-19 virus and subsequent Government lockdown, which caused a catastrophic cash-flow crisis, from which there was no way back.
We thank our staff and customers from our hearts for their loyalty over the years – without these people, none of the Three Cross Story would have been possible.
Richard, Lisa, Keith and Gloria Davies”.