Source BMX Ltd has entered liquidation, with founders Rich and Marc Moore saying that the company was no longer financially viable in its existing form and that liquidation was the only realistic option.

The move followed an attempt by the directors to restructure the business. According to UK insolvency information reported in connection with the liquidation, shareholders approved a winding-up resolution on August 25, 2026, with joint liquidators appointed. The relevant notice was published on September 9.

The founders said the business had been operating with a cost base designed for a significantly larger market than exists today. The closure of Source Park and the postponement of the Battle of Hastings event due to essential building work also affected the business.

Source BMX is set to continue under a new company backed by new capital and operating with a substantially leaner structure. According to the founders, the new business will focus on BMX retail, e-commerce and content.

Photo: Source BMX

Rich and Marc Moore also expressed their regret over the impact of the liquidation on employees, suppliers and other creditors, including companies that had worked with Source BMX for many years.

The founders said they would remain involved in the business and that their priority was to establish the continuing operation on a sustainable footing.

Source BMX was founded by Rich and Marc Moore in 2003. The company grew from a BMX shop in Bexhill-on-Sea into an international BMX retailer. It also developed Source Park in Hastings, which includes BMX and skate facilities and hosts the Battle of Hastings event.

Photo: Source BMX