Signa Sports with Liquidity issues .... (CRC/Wiggle/Probike/Nukeproof/Vitus)

Jabubu

let you google that for me
Both sites have been reduced to landing pages with the following message -

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This was posted on Bike Perfect - some amazing bargains on the very last day -

"It was just yesterday we were alerted to massive 95 percent discounts on both sites with insane deals across what seemed like the last remaining stock. A few examples of the fire sale bargains were the POC Kortal MTB helmet reduced from £180 to £9.99 and also the Fox Rampage Full Face helmet from £190 to £9.99."
 

Jabubu

let you google that for me
Makes sense that it will be good for the smaller retailers in the UK considering the percentage of the market that Wiggle-CRC had in the UK/Ireland.

Yeah definitely but I feel for the people that helped build their in house brands, Mike Ashley is a corporate ghoul.
 

ozzybmx

taking a shit with my boobs out
Mike Ashley is a corporate ghoul.
He's a business man and obviously had the best offer, even if it was just to buy the brands.

Every acquisition he makes is quick and ruthless, some only the next day after they have announced administration.

His base business is running low end retail, selling entry level product. Not really the Nukeproof model.

Wonder if the idea was to part them up and sell them at a later date, when the storm has passed.
 

Jabubu

let you google that for me
He's a business man and obviously had the best offer, even if it was just to buy the brands.

Every acquisition he makes is quick and ruthless, some only the next day after they have announced administration.

His base business is running low end retail, selling entry level product. Not really the Nukeproof model.

Wonder if the idea was to part them up and sell them at a later date, when the storm has passed.
He's a cunt so I look forward to Nukeproof coming to a department store nowhere near you.
 

ozzybmx

taking a shit with my boobs out
He's a cunt so I look forward to Nukeproof coming to a department store nowhere near you.
So anyone, short of an employee buy-out is a chunt ? The bike business is in trouble, no one wanted the business, Fraser group offered the cash for the brands and it was the best offer, might even have been the only offer.

Why the fck would you buy a complete business with 600 employees that has just lost $200,000,000au in 1 year, the second year in a row it ran at a loss.

The issue here is the management of Wiggle-CRC that sunk the business and 600 jobs, not the company that bought the seemingly 'good' part of it after it failed.
 

Jabubu

let you google that for me
So anyone, short of an employee buy-out is a chunt ? The bike business is in trouble, no one wanted the business, Fraser group offered the cash for the brands and it was the best offer, might even have been the only offer.

Why the fck would you buy a complete business with 600 employees that has just lost $200,000,000au in 1 year, the second year in a row it ran at a loss.

The issue here is the management of Wiggle-CRC that sunk the business and 600 jobs, not the company that bought the seemingly 'good' part of it after it failed.
No, just Mike Ashley specifically. But you're right, the people that sunk it in the first place are also chunts.
 

Dozer

Heavy machinery.
Staff member
Tell me about this Mike Ashley. Everytime his name appears people write him off. It seems like the cool thing to say but no one ever actually says why he is the bad guy. Does he eat babies or something sinister?
 

dancaseyimages

Mountain bike pornographer
Sam Hill still has Nukeproof listed in his bio and his recent shots on Insta still have Nukeproof, will be interesting if another company picks him up or what happens. I do love the nukeproof pedals and the 510's were pretty decent on Thredbo runs a few years ago when that's exclusively what I rode in (Summit in Sydney always had good deals).
 

Jabubu

let you google that for me
Tell me about this Mike Ashley. Everytime his name appears people write him off. It seems like the cool thing to say but no one ever actually says why he is the bad guy. Does he eat babies or something sinister?
I'm about to head out but in a nutshell most of the UK despise him for the way he treats Sports Direct workers, the rest of the UK hates Sports Direct and Mike's "Fuck the workers" attitude which made him a billionaire. He basically a British Gerry Harvey.
 

link1896

Mr Greenfield
I'm about to head out but in a nutshell most of the UK despise him for the way he treats Sports Direct workers, the rest of the UK hates Sports Direct and Mike's "Fuck the workers" attitude which made him a billionaire. He basically a British Gerry Harvey.
Aww but Gerry is such a loveable bloke who always puts others before himself.
 

quannum

Likes Dirt
Raising a dead thread, but I bought two sets of Deore 4 Pots from Wiggle at a great price last year.

First set failed a couple of months back (leak) and I got a refund. Second set failed the other day and when I contacted them, they responded that all Wiggle warranties are now void from April 18th. One week out dammit!

We are now out of luck for Wiggle warranties.

I am considering trying Shimano UK, who knows how that will go…
 
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