MCN Exclusive: Riossi statement

Dixon Motors has announced the sale of five Riossi retail stores to Infinity Motorcycles Limited with immediate effect. The stores, based in Farnborough, Clapham, Purley, Great Portland Street and Southampton will close this Thursday and Friday for consultation and stock take, and re-open under new ownership on Saturday 7 June 2003. Discussions concerning the remaining 15 stores in the network continue with potential purchasers at this time but should negotiations be unsuccessful, these stores will close on 30 June 2003.

The sale of these stores is in line with Dixon Motors strategy of focusing on its core car retailing business.

Paul Dixon, Chairman of Dixon Motors said:

” Disposing of Dixon’s Car Clinic and motorcycle divisions and concentrating on the core car retail business was always part of the strategy when Lombard acquired Dixon Motors. The Car Clinic business was sold to its management in January. While it has not proved possible to find a purchaser for the whole Riossi network we are delighted that Infinity, who have excellent reputation in the motorcycle market, has purchased these five sites.

” We thank our team and customers for their support and loyalty and wish them all the very best for the future. ”

Customers requiring advice should contact Riossi Customer Service on 01405 744666.