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My Black Friday Giga 290 Elite purchase feels slightly less great now, they even removed the international x-mas shipping sheet. How long does it usually take before bikes are shipped? (To EU)
Silver lining I found is that Nukeproof provides some warranty directly, let's hope they survive
Obviously the stock isnt the asset here. Its just a means to clear debts. I dont know if those are just debts to suppliers or to "other entities". The assets are the various brands and the fixed assets relating to the sites which I suspect they will want to then just auction off. Horrible for the staff, and I guess CRCWiggle wont ever be what it was.
There is quite an uneasy feeling about the whole business. On one side....get some bargains. On the other...can't help feel for the bike shops, the local friendly ones who really sort you out, who can't ever compete with this. They may need us after xmas if things are bad, so don't go too crazy on overstocking parts.
Part of me agrees with you @kitchener, but on the other hand I remember paying through the nose during the shortages of 2020. This feels like one of those supply/demand bubbles where the customer is up for a change.
It looks like liquidation. I bought a second cross bike and it must have been close to cost price.
It took a bit longer than they said but has now been shipped.
In terms of my business I doubt the lbs will have lost much. The stuff I've bought is things I would have bought from other online retailers. Tend to use shops mainly for service and maintenance.
Also, I'm not sure many of us were popping down the LBS for our spare bits and bobs anyway.
And those who do, the more casual riders, may not even be aware of this fire sale.
It's the other online retailers that will be feeling most of the effect, I suspect.
Edit - posted same sentiment at same time as jonba there
Liquidation of stock, of course, because the parent company has debts. Doesn't mean that wiggle itself is being wrapped up, I don't think?
If CRC/Wiggle go bust tomorrow it's naive to think anything changes IMO; things won't get better for a LBS, someone else will just take their place, especially given that wiggle/crc aren't even the go to for most people in the last few years.
Also regarding the sale, surely it's just the brand/brands that are valuable, any potential buyer probably already has more stock than they can shift already.
It looks like liquidation. I bought a second cross bike and it must have been close to cost price.
Agreed - some of this stuff must be at less than cost.
I bought a Basso road bike in the summer on C2W for £2500 - Wiggle are now selling the same bike for £1600, which is only marginally more than the frame only cost. I don't believe there are circa 40% margins on new bikes?
anything non cycling, wetsuits, running shoes, have been pennies on the pound, this is a liquidation, it’s done and gone surely
It does seem to be the non-cycling stuff they’re focusing on just getting rid of. I wonder if the intention is just to get rid of that side of the company and focus purely on cycling (asssuming that was the most profitable part)
I've just tried to cancel an order, been sat there "processing" for a week. It's only a Saddle and Bottom Bracket tool for £70, but don't want to risk losing some money. Weird how all my other recent orders were next day, super quick
Any MTBs shipped the last days outside EU? :S Mine not shipped since last (black) friday
I don’t believe there are circa 40% margins on new bikes?
Yeah, for Chiggle anyway.
Well my bits ordered on Monday night turned up this morning. Didn’t need anything (spent £65 and apparently ‘saved’ £145) picked up a brand x dropper for £45, Hemet for £5, some cheap grips and saddle and 30p olives. All going in the spares box.
Going through the warranty returns process currently with a cracked Vitus frame currently. Less than ideal (obviously) but if they're getting ready to disappear altogether I'm hoping to 'get in there' before I'm left completely stranded!
Nothing's moving 'fast' and those few employees left are very much sticking to the policy rather than going the extra mile to help (Can't say I blame them!). Fingers crossed they a) survive and b) have some sort of stock to replace the damaged frame with!
Ordered tool box (needed as mine is falling to bits) and some spare brake pads and cable ferrules.
Purchased a 29er hard tail for less than £200. Starting to think I am taking the piss now. Can't imagine it will come out of the box before I flip it (if it arrives).
I sold the cargo bit from my folding cargo bike for just less than I paid for the whole thing, so have a lovely folding commuter with hydraulic disc brakes and Dynamo lights for £70.
There is quite an uneasy feeling about the whole business. On one side….get some bargains. On the other…can’t help feel for the bike shops, the local friendly ones who really sort you out, who can’t ever compete with this. They may need us after xmas if things are bad, so don’t go too crazy on overstocking parts.
Meh, they charge absolute top whack for the basics (a bottle of stans, tubeless valves, gear cables, inner tubes, etc) because when you really need these things and you've not planned ahead that does constitute good "value" and that's where the margin is.
The rest of the time, I'm going to jump on any bargains I can, I'm certainly not going to diddle myself just to prop up someone else's business there's a cost of living crisis on and bikes are a discretionary spend in our household...
Anyone who goes out of their was to buy stuff in their LBS just to "support them" is a mug (IMO).
My DHB Aeron running waterproof came, it's incredible, like super tough tissue paper, stretchy, and almost imperceptible to wear. I'm seriously considering the road cycling one.
Meh, they charge absolute top whack for the basics (a bottle of stans, tubeless valves, gear cables, inner tubes, etc) because when you really need these things and you’ve not planned ahead that does constitute good “value” and that’s where the margin is.
”need brake pads eh? £25”
“Decent brand then?”
“Yeah, Aztec”
**** sake
Anyone else had "We are unable to deliver to this location. Please choose a different delivery location to proceed." when trying to order? I mean, I do live in central-ish Manchester but its not THAT bad!
Certain brands in a basket seem to prompt that message when you go to checkout. Probably some trial and error required to work out which item(s) mind
Liquidation of stock, of course, because the parent company has debts. Doesn’t mean that wiggle itself is being wrapped up, I don’t think?
Just to clear up a bit about what Administration means and where cash goes.
The main role of the administrator of Wiggle Limited (in administration) is (effectively) realising assets to pay the creditors of Wiggle Limited to the extent that it's possible to do so and according to the statutory order of priority.
Assets includes anything tangible or intangible that will generate net value including on a sale of some or all of the business.
If a group company is owed money by Wiggle Limited then it will have a claim in Wiggle's administration and will potentially get some payment (or not) depending on what funds are available to pay distributions to creditors. Group companies will sit in line with other creditors of the same legal priority.
As for what the future holds the administrator has to report periodically. I hope for one that they do manage a deal because that's likely to be the best outcome for the biggest number of people and especially for the staff.
Yep, liquidator's principal role is to turn stock into cash realising as much money as possible.
The message about the location comes up when they've gone out of stock.
More job cuts, but hopes of a buyer?
My 12sp Dura Ace chainset arrived after 3 days from ordering with Chiggle this week, paid £270 for it (rrp is £550) so plenty pleased to pick it up at that discounted price.
Anyone who goes out of their was to buy stuff in their LBS just to “support them” is a mug (IMO).
Do you know the price of everything and not the value? When did Wiggle last service a bike or true a wheel just before you had an urgent trip? Use them or lose them.
Looked at some of the single speed bikes on Wiggle. I didn’t see the value despite some apparently silly low prices for gas pipe frames and lead alloy wheels with dangerous tyres.
@freeagent, I'm tempted by the same, but might be a bit racy compared to my very comfortable position diverge.
How are you finding the Basso?
I bought a Basso road bike in the summer on C2W for £2500 – Wiggle are now selling the same bike for £1600,
I'm tempted with a carbon Nukeproof Reactor frame but the lack of spare mech hangers is putting me off, does anyone know of an aftermarket supplier, i've taken a look at BETD, unfortunately they don't list one
This looks pretty bad to be honest. the main group higher up is now imploding. Talk of €5 billion plus in debts. <br /> https://www.ft.com/content/31884c4d-2da7-4b43-917e-3180e9eafa3d
looks like massive overvaluation to get more loans and investors is coming back to bite them. Even SoftBank and Saudi wealth fund billions appear to have limits to pouring money in a hole. <br /><br />
about 4 weeks till the CRC administration have to provide their report and we will actually know what is happening.
if there are any buyers I’m suspecting they are all hanging back to see how little they can get away with bidding for the IP and brand names. There’s gonna be no stock value left very soon. <br /><br />
Neil SuperstarComponents
There’s gonna be no stock value left very soon.
Which reminds me I probably need to uplift my home contents insurance cover 😁
@nigew pretty sure all the current Nukeproof Frames use SRAM UDH (for better or worse) so 1) they're easy and cheap to buy, 2) you'll never need one because the frame will probably break or bend before the hanger. Looks like UDH from the product images too
@nigew pretty sure all the current Nukeproof Frames use SRAM UDH (for better or worse) so 1) they’re easy and cheap to buy, 2) you’ll never need one because the frame will probably break or bend before the hanger. Looks like UDH from the product images too
I'm impressed with your confidence in the frames 😄😄
I think the Mega is UDH, the out of stock one for the reactor looks different
I’m tempted with a carbon Nukeproof Reactor frame but the lack of spare mech hangers is putting me off
Very good point that which, blinded by the discount, i hadn't considered... I'm tempted but that is now putting me off (given ive just found they're also out of stock on hangers for my vitus)
That's the hanger for the reactor.
I’m starting to think eBay will be flooded with regret purchases next year🤣
I'm already seeing more brand new Nukeproof frames on ebay with a mark up on crc prices.
Onzadog's Law.
Always buy a spare hanger with 3very new bike/frame. Then Murphy's Law means you'll never need it.
Never buy a frame/bike if they can't supply a mech hanger at the same time.
Onzadog has forgotten the corollary; store said hanger so that when you need it, you won’t be able to find it.
A couple of shipment notifications just pinged through so stuff still going out the door ok.