Australian dealer group finds buyers amid restructuring, majority of stores to stay open
Two major buyers have stepped in to acquire most of Peter Stevens Motorcycles’ retail network, preserving key locations and jobs following the Australian dealership group’s collapse into administration last month. The news marks a significant shift in a high-profile restructuring that, as previously reported in May, could have a ripple effect on U.S. powersports markets.
The Joe Rascal Group, led by James Tonna and Barry Fitzpatrick, will acquire four Harley-Davidson and Ducati-branded stores in Victoria, including Harley Heaven Melbourne and Peter Stevens Ducati South Melbourne.
Meanwhile, Motorcycle Holdings Ltd — Australia’s largest motorcycle retailer—will take over seven additional locations, including Peter Stevens Adelaide, Savage Motorcycles Perth, and multiple Harley Heaven stores across the country. Motorcycle Holdings CEO Matthew Wiesner says the brands will remain active and benefit from the company’s national scale and supplier relationships.
Despite the successful sales, several locations will close due to a lack of viable offers, including stores in Geelong, Ringwood, and Bankstown, as well as Harley Heaven Bankstown and Melbourne City Triumph. The appointed administrator, KordaMentha, is working to support impacted employees during the transition.
Roughly 250 jobs are expected to be preserved, pending regulatory approvals, with deal completion anticipated by mid-July.
