We think Vitus owners and people who wish to buy them may be okay in the long run.
We received a piece of correspondence from Accell Group this morning (own Raleigh, Haibike, Lapierre, XLC, Sparta etc.) stating they have submitted a proposal to close their parts and accessories business in the UK.
Now, Signa Sports own Wiggle, Chain Reaction etc. who in turn own Vitus. We are definitely adding 2 plus 2 and getting 5 but … if Accell no longer sell parts and Signa Sports' receivers are desperate for someone to buy Wiggle CRC who do sell parts, both B2B and more importantly B2C, from administration it would make perfect sense for Accell Group to purchase Wiggle CRC (and therefore buy Vitus) from administration and obviously ‘come to an agreement’ on the value of current stock.
In the meantime the receiver has to sell current stock quickly to pay staff wages, of which there are lots. So we are probably wrong but would suggest buying all ‘reduce priced’ stuff you need while they are in admin because once everything comes out of the washing machine there will be a large reduction in suppliers which means higher prices for everyone like we are currently seeing with domestic energy.
As I say, we are probably wrong; just adding 2 plus 2 and getting 5, or possibly 9.