Concern for 400 staff as Peter Stevens Motorcycles goes bust
Peter Stevens, the city’s largest motorcycle dealer that was founded 55 years ago, has been placed into administration, leaving hundreds of staff in limbo.
Victoria
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Melbourne’s biggest motorcycle dealer Peter Stevens has gone into voluntary administration, throwing the future of about 400 jobs in doubt.
The company formed by the Chiodo brothers more than 50 years ago was placed in administration on Monday.
The company trades as Peter Stevens Motorcycles but also has Harley-Davidson dealerships such as Harley Heaven in West Melbourne and Ringwood.
The dealerships sell a range of brands including Triumph, KTM, GASGAS, Yamaha, Kawasaki, Honda, Suzuki, Aprilia, Moto Guzzi, Can-am trikes, Vespa scooters and Sea-doo jetskis.
The company has four main dealer sites – Ringwood, Dandenong, Geelong and Adelaide – among 15 dealerships nationwide which also sell used bikes, parts and accessories.
KordaMentha has been appointed administrators for the business which has an annual turnover of about $250m.
Administrator Craig Shepard of KordaMentha said the company would continue trading while “seeking expressions of interest in all or parts of Peter Stevens Motorcycles’’.
“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.
“These are strong foundations for a new owner to set the business up for future success,” he said.
It’s believed some interested parties have already made contact.
The company was formed in 1970 by Vince, Steve and Peter Chiodo. It is now a second-generation family business with Vince’s daughter Jessica Chiodo-Reidy taking ownership of the retail business in 2023.
In March, retail chief executive Darren Munro left after more than 30 years with the company, with Andrew Malarkey appointed interim CEO.
Staff are believed to have received a four-week notice regarding the likely closure of the Peter Stevens businesses.
The potential shutdown follows the company’s decision to close its CBD location on Elizabeth Street in February 2020, an area historically known for motorcycle retailers.
Peter Stevens has faced challenging market conditions in recent years, despite renewed interest during the pandemic as people sought more affordable transport.
Recent data from the Federal Chamber of Automotive Industries showed a 3.5 per cent decline in motorcycle sales for the first three months of this year compared to the same period in 2024. The scooter category experienced the most significant drop, with an 8.5 per cent slump in sales.
FCAI chief executive Tony Weber said the decline reflected tough economic conditions.
“Motorcycles are often a discretionary purchase, and in the current environment of high living costs and interest rates, many Australians are understandably more cautious with their spending,” Mr Weber said.
The rise in popularity of e-bikes and e-scooters has also hit the motorcycle market, particularly for inner-city commuting.
Originally published as Concern for 400 staff as Peter Stevens Motorcycles goes bust
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