One of Australia’s largest dealers enters bankruptcy, which could cause ripple effects in the U.S.

Peter Stevens Motorcycles, a household name in Australian powersports retail, has entered voluntary administration, leaving 400 jobs in limbo and drawing attention from industry watchers worldwide. The news, first reported by The Australian Financial Review on May 19, reflects the increasing strain on large-scale retail operations amid softening consumer demand and mounting financial pressures.

The company, founded in 1970 by brothers Vince, Steve, and Peter Chiodo, has been a dominant player in Australia’s motorcycle scene. With 15 dealership locations across four states, it represents eight of the top 12 motorcycle brands sold in the country, including Harley-Davidson, Yamaha, Ducati, Triumph, and BRP’s Sea-Doo.

Craig Shepard, Michael Korda, and Andrew Knight of KordaMentha Restructuring have been appointed as voluntary administrators and will continue trading the business while seeking a buyer.

“With more than 50 years of brand recognition, an established dealer footprint across the country, and a significant share of the local motorcycle market, there is a genuine turnaround opportunity here,” said Craig Shepard in a statement. “These are strong foundations for a new owner to set the business up for future success.”

Despite annual revenues reportedly around AUD $250 million and sales of approximately 8,000 units per year, the company’s retail arm has been under significant financial strain. In 2021, the business was split: the wholesale division remained independent, while the retail operations were sold to Jessica Chiodo-Reidy, daughter of co-founder Vince Chiodo. The retail side has now entered administration.

Industry observers point to broader challenges facing brick-and-mortar retailers in the powersports sector, particularly in Australia, where several major names have recently collapsed.

“This is one of the most significant developments we’ve seen in Australian motorcycle retail in decades,” said Damien Pelletier, senior editor at Australian Motorcycle News. “Peter Stevens has long been a cornerstone of the industry here. Its fall signals how even the most established dealerships are vulnerable if they can’t adapt to new market conditions.”

Pelletier added that shifting consumer habits, rising interest rates, and tightened credit are likely compounding factors. “Dealers who thrived during the pandemic are now dealing with excess inventory, higher financing costs, and customers who are thinking twice before making large discretionary purchases,” he says. A sentiment we’ve heard in the U.S. market for the past couple of years.

The Peter Stevens network includes multi-brand dealerships and branded franchises like Ducati, Triumph, and Harley-Davidson. In addition to motorcycle sales, the company offers parts, accessories, service, and insurance — a full-service model that now faces disruption.

The collapse offers a cautionary tale for U.S. powersports dealers and manufacturers with business in the Asia-Pacific region.

“Peter Stevens had scale, brand power, and market coverage — yet still couldn’t withstand current pressures,” Pelletier notes. “It’s a reminder to dealers everywhere to stay agile, watch debt levels closely, and evolve with customer expectations.”

Administrators say they are actively exploring buyer interest and believe the business has long-term value.