Bike clothing company Vulpine went into administration several days ago, with cofounder Nick Hussey giving the following statement:
“It is with intense sadness that I have to inform you that Vulpine is insolvent and I have had to take the extremely difficult but essential decision to place the company I founded into administration, under UK law, hence my unusual formality,”
Administration isn’t necessarily the end for the brand, as we’ve seen before with BETD buying Middleburn, but it’s sad to see a UK company suffer such a blow. It’s a been a difficult year, with Vulpine cancelling a crowdfunding attempt that was going to fall short of its £750K target. Nick continued:
“The proposed Administrators plan is to try to sell the company’s assets, such as brand, goodwill, database & website to maximize realisations for the benefit of creditors and potentially shareholders. You can contact Robert Young at RSM for advice on this process, or if you believe there may be an interested buyer: robert.young@rsmuk.com”
(Via cyclingindustry.news)
Comments (6)
Leave Reply
Post Comment
Great shame, really good quality kit especially the soft shell from a couple of years ago which is my go to cold weather jacket. Any ideas if they are honouring orders as made one at the weekend and website is still selling?
Rubbish. Nuff said really.
@devbrix They stopped updating social media as of May 5th. Generally once things have been handed over to an administrator it’s not good news for that sort of thing. Found this page, that might be useful, via their facebook page: http://www.companyrescue.co.uk/company-administration/will-i-get-my-goods
No! I have a Harrington, a Rain Jacket and one of their waterproof hooded jackets and really like them, but blanched at over £300 for the waxed Harrington.
Hopefully there will be a future for them, I really liked the jackets if not some of the prices.
Good clothing but eye wateringly expensive for what is essentially high class cotton (I have a couple of tees & a pair of trousers, all bought from sales). Also, sizing & fit were definitely for the young & beautiful, not much there for porkies. Still, good styling, quite elegant for practical, urban clothing, so I hope the company resurfaces in some shape or form.
BIKEBIZ.COM have a far more I depth article into the collapse of a company that was rich on ambition but lacked financial management, directors and investors that walked away previously, crowd funding which failed and an insight from a crowd funding analyst who suggested that the company had little or no value and yet the owner continued to take a huge salary when the writing was on the wall so much so that he paid himself £37k in the last 3 months, this together with a failed tie in with Sir Chris Hoy and Evans Cycles it was inevitable.