The lifespan of recently collapsed British motorcycle manufacturer CCM has been extended, with a local auction house purchasing the remaining unsold stock to sell on, plus a large quantity of parts in a bid to continue building Spitfire models.
CCM Motorcycles is being given a kind of lifeline by the auction house selling off all its assets, with some hoping that auctioneers’ approach will give the British brand time to find a new owner.
Bolton-based CCM Motorcycles entered administration back in June, following a familiar story within the motorcycling industry of getting a big cash injection from an equity investment firm, then struggling to keep debt under control as big dreams present big challenges.
It was a sad end to the company founded in 1971, but perhaps one that shouldn’t have been surprising, since CCM was seemingly unable to meet ever-tightening emissions standards.
Its business assets have been acquired by Gateway Auctions, who say they are keen to take an “outside-the-box” approach to helping pay off CCM’s debts. Whereas an asset liquidation entity might normally just take an ‘everything must go’ approach, selling off every little thing – from bike bits to office stationery – for whatever money it can get, Gateway Auctions are being a little more measured.
Gateway Auctions Director David Sunderland says he hopes a phased approach will “offer some hope for the brand and its employees.”
Step one will be to sell most – if not all – of the new and used motorcycles that were in CCM’s possession. This includes a number of heritage models. A selection of components will also be available, as well as memorabilia and various bits of branded merchandise.
After that, the plan is to utilise key members of staff to ensure that the “substantial” amounts of raw materials and components that CCM had are turned into actual motorcycles. Once they’re built, Gateway Auctions plans to sell those, too.
Taking this approach will naturally take time, and Sunderland pointed out that the time factor is a deliberate part of the strategy. The longer the process continues, the more opportunity CCM has to find that rare individual or corporation with the resources and expertise to bring the brand back to life.
“I was shocked to hear that such a well-respected UK motorcycle manufacturer had entered administration,” Sunderland said. “Long term, I’d like to see the brand continue, and we would be open to discussions with interested parties who may wish to take the brand forward.”
It’s important to note that Gateway Auctions isn’t claiming to take over the operation of CCM. What’s happening here doesn’t seem like a full-scale effort to rescue the brand, unlike what happened with Buell nearly a decade ago.
In 2016, the US motorcycle company Buell went bankrupt yet again, and its assets were acquired by a company called Liquid Assets Partners. At first, they tried to sell the brand and its components, but the plan shifted after a few months. It turned out the owner and CEO of LAP had a deep passion for motorbikes and decided to keep Buell, taking on the role of its CEO.
It seems things are looking up for Buell, as they prepare to launch new models and have even made a return to the UK market.
It’s unlikely that history will repeat itself here with CCM and Gateway Auctions, but in the motorcycling world, you can never say never.
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