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Dutch Biggest PTW Retail Chain Declared Bankrupt

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ROTTERDAM, Netherlands (January 3) – Dutch Euro Motorcycles Group NV including its chain of ‘Safe Motors’ stores has been declared bankrupt by the court of Rotterdam. Euro Motorcycles Group including its nine Safe Motors stores and another seven other motorcycle shops was Holland’s biggest chain for Powered Two-Wheelers (PTW’s) with an annual turnover of about […]

ROTTERDAM, Netherlands (January 3) – Dutch Euro Motorcycles Group NV including its chain of ‘Safe Motors’ stores has been declared bankrupt by the court of Rotterdam. Euro Motorcycles Group including its nine Safe Motors stores and another seven other motorcycle shops was Holland’s biggest chain for Powered Two-Wheelers (PTW’s) with an annual turnover of about € 115 million and an estimated market share of over 30%.
The Euro Motorcycles Group (EMG) NV officially based in Veenendaal, The Netherlands, was a holding which operated a total of twenty companies including the nine Safe Motors megastores. EMG also owned ‘Motorama’ which is an importer/wholesaler specializing in motorcycle wear, the Apeldoorn based Motor Trading Company, Action Motors, Action Motors International and other scooters and motorcycles shops called Holland Motors, Tiggelaar Motoren, Salland Motors, Daytona Motors, Gebben and Veens Motorcentrum. Since the filing for a suspension of payments which took place on December 10 all EMG activities were stopped while all the shops and Motorama were closed. Euro Motorcycles Group NV had about 250 employees.
According to Henk Illsley, former after sales manager of the Euro Motorcycles Group, declining sales of PTW’s in the Netherlands are only part of the reasons why Holland’s biggest chain store for motorcycles was forced into suspension of payments followed by the official bankruptcy. It is said that the withdrawal of one of the three owners of EMG also contributed to the deep financial difficulties. According to the Receiver handling the EMG bankruptcy, Apeldoorn based lawyer Mr. H.C. Brandsma (tel. +31 55 5271266) a restart of EMG including the Safe Motors chain and importer/wholesaler ‘Motorama’ is very likely and is expected to take place in February. (JO)

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