Universal acquired Muddy Fox around 2001 and turned them into a low quality brand. Mike Ashley/Sports Direct then acquired 80% of Universal Cycles around 2008 and they managed to turn them into a lower quality brand.
People in their 30’s and 40’s remember the brand as it was and when they need to buy a bike for their kids, they see a £99 full susser and they believe it is the deal of the century. A Muddy Fox for £100. What a bargain!
Mike Ashley owns so many brand names (both retailers and manufacturers) now a days and every brand he owns produces rubbish. From memory some of his recent acquisitions include USC, Republic, M and M Direct, Firetrap, etc.
When Volkswagen bought Skoda in the 90’s they turned them into a decent brand over time, so much do that the old Skoda stigma has more or less disappeared. When Ashley buys a brand he turns them to rubbish.