BUYER FOUND FOR HEIN GERICKE (UK)
August 23 2012.


A statement issued late this afternoon by the administrator Moorfields Corporate Recovery, advises that a buyer has been found for Hein Gericke (UK) Limited. The release reads;

A buyer has been found for one of the UK's leading motorcycle clothing and accessory retailers, Hein Gericke (UK) Ltd, which entered administration at the end of July. Appointed administrator, Moorfields Corporate Recovery, has confirmed an offer has been accepted which will enable the 'Hein Gericke' brand to continue its presence in UK towns and cities.

The sale of the business is expected to complete in early September and until then the last of the stock will continue to be sold with all items reduced by up to 60%. All clothing has at least 40% off and all helmets have at least 30% off.

Simon Thomas, joint administrator at Moorfields Corporate Recovery, said: "It is great to see that such a well-known brand and high street presence as Hein Gericke has been rescued. It is apparent that the name is held in high esteem and is a byword for quality in the industry.

"The buyer sees the potential for the business to overcome the recent economic pressures which have impacted over the past few years."

Before entering administration the firm operated 49 shops across England, Wales, Scotland and Northern Ireland, in addition to a catalogue and an online shopping service. The UK business is separate from the parent company, which operates shops across Europe, trading within the UK under a license agreement with the German based parent company.

Hein Gericke was a German biker who opened a motorcycle shop in Germany in the 1970s. Within a few years the business developed to become the largest motorcycle dealership in Germany. The next decade saw the business expand to include clothing and accessories for bikers. The company had an international presence by 1987 at the point Hein Gericke sold his business.

The Hein Gericke brand is now sold through a retail shop presence across Germany, Austria, Belgium, Netherlands, Italy, Luxemburg and the UK.

Moorfields also acted as administrators of HPJ Jewellers earlier this year.

Interested parties interested in knowing more about the shops that are still available should contact Moorfields Corporate Recovery on akendall@moorfieldscr.com or 0207 186 1144 .