Founded by the Chiodo family, Peter Stevens expanded to 15 locations across Victoria, South Australia, New South Wales, and Western Australia. The company's portfolio includes dealerships for major brands such as Ducati, Triumph, and Harley-Heaven.
According to documents lodged with the Australian Securities and Investments Commission (ASIC), the company's financial obligations include $2.1 million in customer deposits and $26.5 million in secured loans. Additionally, the Australian Taxation Office is owed approximately $4.5 million in deferred tax.
In response to the financial crisis, Peter Stevens announced discounts of up to 50% on new and used motorcycle stock until June 25, 2025. This move aims to liquidate inventory and generate immediate cash flow.
For customers who have placed deposits or are considering purchases, it's advisable to stay informed through official communications from the administrators. Understanding the terms of any transactions during this period is crucial.
The situation at Peter Stevens underscores the importance of financial stability in the motorcycle retail sector. Customers should exercise due diligence when engaging with retailers, especially during periods of financial uncertainty.
As the administration process unfolds, the future of Peter Stevens Motorcycles remains uncertain. Stakeholders, including employees, customers, and suppliers, await further developments regarding the company's restructuring efforts and potential outcomes.
