Super Soco saved from administration

Last month brought unexpected news – the importer of the best-selling brand of electric bikes in the UK, Super Soco, had plunged into administration. Newark-based Vmoto UK Distribution appointed Kingsbridge Corporate Solutions of Hull on 14 March, having posted two Notices of Intention to Appoint an Administrator in February.

But there was a speedy resolution to the story, with the manufacturer, Vmoto Soco Group, buying up the UK distribution arm in what it calls “a strategic move to bring long-term stability dealer network and customer listings, the management team and employees, stocks, and fixed assets at discounted prices, excluding all liabilities.

50 active B2C dealers in the UK, which is an important EV market for the company, and will allow Vmoto to further expand its presence with an established management team. Direct sales to B2C dealers will also allow Vmoto to grow the UK market share with more focused support.”

Andy Fenwick, Vmoto UK Distribution MD, added, “Super Soco has become very well known amongst electric bike fans in the UK. Our dealer network has made great strides in building brand confidence, so it is great that the manufacturer itself has invested in the distributor.”