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

Mikerb

E*POWAH Elite World Champion
May 16, 2019
6,064
4,583
Weymouth
No Hope stuff on Chiggle now...
I checked out their so called Black Friday sale......complete rubbish!! RRP highly inflated and discounts only of any significance for very small or very big people....and yes, its mostly clothing.
 

Tooks

Active member
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Mar 29, 2020
411
497
Lincs UK
No Hope stuff on Chiggle now...

Yes, perhaps Hope recalling their stock as it’s supplied on credit terms or similar?

I’m wondering if that’s what’s happened with some of the Vitus e-bike shipping issues. It’s a lot of money lost to being a ‘creditor’ if CRC/Wiggle stops trading before Vitus have been paid.

Just speculation on my part obviously, but once administrators are appointed it never seems to end well.
 

JP-NZ

Well-known member
Feb 17, 2022
980
739
Christchurch - New Zealand
It looks like its all downhill from here... Stolen from the Vitus thread

chain re.PNG wiggle.PNG
 
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Tooks

Active member
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Mar 29, 2020
411
497
Lincs UK
Does this mean that nukeproof will cease production ??? They have only just released the new megawatt

I don’t think anybody knows what this means, to be honest.

The Administrators will go through all sorts of options now, from financial through to selling either as a whole or in parts.

I’d be surprised if none of the various brands within the group weren’t viable, it’s now just a waiting game really.

Inconvenient for customers past and present, but I still feel for everybody whose livelihood is at risk.
 

Doomanic

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The MegaWatt would have been in development for ages before the shit was even in the vicinity of the fan, never mind being flung around the building.

As far as warranty goes, all the components are covered by their own manufacturers warranty so it's only really the frame that's a worry.
 

IcePaws

New Member
Sep 7, 2023
48
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UK
ArrowXL (CRC courier for bikes) has advised me today via webchat that all bikes in their system that were due for delivery are now being returned to CRC.
 

RustyMTB

E*POWAH Elite World Champion
Jul 22, 2020
2,440
5,985
UK
Arrow don't think they'll be getting paid. If CRC want to carry on trading through administration, they'll probably have to work pro forma with their parcel carriers which in itself is a fast drain on cash. Been there & done that.
 

InRustWeTrust

E*POWAH Master
Mar 9, 2020
509
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Sweden
bye bye with that guarantee.

if you are unlucky with
that the frame is broken/cracked , you may well try to proceed with it legally via vitus directly i guess.
 

Doomanic

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Vitus are a Hotlines brand, who are wholly owned by SSU so they may well go bump too.

On the bright side, you currently have a working bike and may never need the warranty.
 

Doomanic

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Chiggle is for sale. Statement from administrators, lifted from PB…

WiggleCRC, the online sports retail group, is set to be put up for sale following the appointment of Joint Administrators.
Alastair Massey and Tony Wright of specialist business advisory firm FRP were appointed to Mapil Midco 1 Limited and Wiggle Limited on 25th October 2023. A group of subsidiary companies that form the remainder of WiggleCRC including Chain Reaction Cycles Limited, Chain Reaction Cycles Retail Limited and Hotlines Europe Limited are expected to be placed into administration imminently.
WiggleCRC was formed in 2017 following the merger of Wiggle and Chain Reaction Cycles. It was later acquired by Signa Sports United in 2021 and now operates a stable of brands across the cycling, triathlon, running and outdoor adventure gear markets, including Wiggle, Chain Reaction Cycles, Vitus, Nukeproof, dhb and Hotlines.
WiggleCRC and its brands remain fully operational and will continue to trade. The business, which employs around 450 staff, has headquarters in Portsmouth, UK and operates a 320,000 sq ft warehouse facility in Bilston, Wolverhampton. All staff have been retained by the Joint Administrators at this stage.
The appointment of the Joint Administrators and sale process come after the company lost its financial support through its parent company Signa Sports United NV.
Tony Wright, Partner at FRP and Joint Administrator of WiggleCRC, said: “WiggleCRC is one of Europe’s best-known sports retailers and has built a committed customer following in the cycling community. The administration provides a crucial period of protection for WiggleCRC as we prepare to market the business for sale. The group has a quality stable of brands and a leading market position, so we expect there to be interest and encourage potential buyers to come forward.
“We’d like to reassure customers that all operations are running as normal, including the websites and online sales of Wiggle.com, ChainReactionCycles.com and hotlines-uk.com . Customer service support is live and can be contacted with any queries through the respective websites.”
 

Tooks

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Mar 29, 2020
411
497
Lincs UK
“We’d like to reassure customers that all operations are running as normal, including the websites and online sales of Wiggle.com, ChainReactionCycles.com

Do I risk buying that £30 Vitus balance bike for my niece for Christmas after all!

My daughter had one of those, she literally cried when I sat her down to tell her she was too big for it and we were gifting it to a smaller kid! 🥲

Even the Frog bike that replaced it was never loved as much! 😂
 

Zed.

New Member
Apr 26, 2023
36
73
Deepest Bandit country (Wales)
“We’d like to reassure customers that all operations are running as normal, including the websites and online sales of Wiggle.com, ChainReactionCycles.com

Do I risk buying that £30 Vitus balance bike for my niece for Christmas after all!

Seen this post this morning and was like I'm risking it and getting the kid one for xmas, hopefully it shows up

mrs has just bought a pair for nephew & niece, hopefully this will help Wiggle survive (& hopefully they will get delivered 🤞 )

Rich.
 

steve_sordy

Wedding Crasher
Nov 5, 2018
8,240
8,442
Lincolnshire, UK
Why not splash the cash on an Isla Bike for your niece? oh hang on a minute Islabikes to Cease Production
I read that unlike the Wiggle/CRC car-crash, the folk running Islabikes are doing this voluntarily, they have just had enough, no longer enjoying it etc. They will be keeping a stock of spares and will be standing by warranty claims etc. Honorable. :love:
 

steve_sordy

Wedding Crasher
Nov 5, 2018
8,240
8,442
Lincolnshire, UK
Dunno why I didn't look sooner, but I have a CRC voucher for £5! :(
Currently looking for something for about that.

Edit:
Found (1) some zip ties for £4.99, but out of stock!
Found (2) a brake caliper alignment tool, reduced to £6.99. But my code is invalid!

So, either I have already used it some other time, or CRC have invalidated all their voucher codes.
I sort of knew I was wasting my time. I'm glad I managed to resist buying a massively reduced WTB 27.5 x 2.6 Trail Boss tyre. CRC, you are OVER! :cry:
 
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