GoFar is pleased to announce the birth of its successor. Well this is a bit of…
Sixth Element Wheels is reported to have ceased trading. Forum users who are Sixth Element customers have reported receiving an email containing the following letter:
Dear Sir/ Madam
Re : Monsun Limited Trading as Sixth Element Wheels (“the Company”)
I regret to advise that the above named Company has ceased trading and is unable to pay its debt due to you or to other creditors. This means that warranty and crash replacement cover is no longer operative. No refunds are available.
As director(s) I/we have sought advice from a licensed insolvency practitioner with a view to having the Company wound up. It became clear early on in our meeting that the Company has insufficient assets to meet its liabilities and is insolvent within the meaning of the Insolvency Act 1986. In addition there are insufficient assets to meet the cost of winding up the Company, either voluntarily or compulsorily.
Given the above I am writing to all creditors of the Company notifying you of the fact that the Company has now ceased trading. While the Company has no assets with which to fund a liquidation we understand that for credit insurance purposes a creditor may wish to have the Company wound up. To this end any petition to windup the Company would not be opposed and we now invite creditors to take steps to wind-up the Company compulsorily.
In the event that no petition is received from a creditor within the relevant period / three months I will write to the Registrar of Companies, attaching a copy of this letter and a list of creditors to whom it was sent requesting that the Company be struck off.
I thank you for your past support.
Director, Monsun Limited
Trading as Sixth Element Wheels”
In addition to the above reports, the website, social media and phones all appear to have been taken down or disconnected.
Sixth Element founder, Graham Stock, left his life in Town Planning behind him to found Sixth Element in 2015. The company quickly acquired a reputation for eye catching carbon wheels at affordable prices, and by 2017 were runners up in the Singletrack Reader Awards for Best Hardware, and Best Online Service runners up in 2018 and 2019. They even supplied the British Olympic XC team with wheels for Tokyo 2020.
In recent years the carbon wheels market appears to have become more competitive, with more companies offering better warranties and lower prices than in the early days of chi-chi carbon wheels. And as we’ve seen time and time again this year, trading is tough in the bike industry.
We’ve made efforts to reach out to Graham for comment. Once again, a sad day for those personally affected, and for the bike family in general.