Peter Stevens MC enters administration

Peter Stevens, one of the most familiar names in the Australian motorcycling industry, has entered voluntary administration, with KordaMentha Restructuring appointed to turn the business around. The administration does not affect the motorcycle importation (Peter Stevens Importers) or accessories wholesale (Monza Imports) side of the business, which separated from the retail arm (Peter Stevens Motorcycles) in 2021 and 2023, respectively. 

Peter Stevens was established in 1970 by the Chiodo brothers – Vince, Steve and Peter – and became one of the major retailers in Melbourne’s famous Elizabeth Street motorcycle precinct. Later adding importation and accessories wholesaling to the business, Peter Stevens also expanded its retail operations from Victoria into South Australia, New South Wales and Western Australia.

Peter Stevens Motorcycles currently operates 15 dealerships in four states, employing 400 staff across its multi-franchise showrooms that carry volume brands like Yamaha, Kawasaki, Honda, Suzuki and KTM, as well as Ducati, Moto Guzzi, Triumph, Vespa and Aprilia, to name a few. The retail business also includes standalone outlets, like Harley-Heaven in Melbourne, and Sea-Doo/Can-Am in Geelong. Peter Stevens has also brought the Zero electric motorcycle brand back to Australia.

In 2020, the Peter Stevens Elizabeth Street store was sold for a reported AU$31.5 million, but that wasn’t enough to turn around the retailer’s debts, compounded by reduced consumer demand post-Covid.

All dealerships are expected to continue trading in the short term, with KordaMentha’s Craig Shepard confident that the strength of the Peter Stevens name and its established dealer network will be enough to return the business back to profitability, most likely under new ownership.

“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,” Shepard told the Australian Financial Review. “These are strong foundations for a new owner to set the business up for future success.”