Possible demise of CRC / Wiggle

Once the haribo stops, then we know the real trouble has started.

I’ve had half a dozen or so CRC deliveries this year. Not a single one has contained Haribo. Have they stalked me on Arsebook and decided the last thing I need is sugary treats?

Caved and ordered some DHB running clothing last night as the discount is particularly crazy – only seems to be available through wiggle instead of CRC (or it could be the shonky search tools). Anyway ordered just shy of £500 of clobber for £66. If you are selling off the stuff at that type of discount there is no coming back surely.

(in much the same way that Donald Trump is facing $250m+ of fines right now in the US and probable time in jail)

It’s not been overstated, it was overvalued, but so many public businesses are – value is ultimately what people are willing to pay not an arbitrary multiple of ebidta. I was once asked what my business was worth, my answer was ‘Less than when we hadn’t made a profit’.

Unless the SEC could prove that SSU falsified their statements in order to boost the share price, then the value was what people were willing to pay for it on the open market.

Dudek’s assertion that the ¢150m equity commitment never really existed is quite telling sadly!

It probably did exist – it was likely not a coincidence the $150m was the same value give or take as SSN’s shareholding in SSU at the time it was committed. Thus they could underwrite the value of the loan with the equity they held in the business without it being a lie nor needing to have the free cash on hand. Only when the equity in the business crashed and other parts of the SSN empire likewise could they then no longer afford it and even selling _all_ their shares would only raise them a few mil. rather than the $150m at the time of the commitment.

It’s not been overstated, it was overvalued, 

Got my terminology wrong, but yes, this…

It probably did exist – it was likely not a coincidence the $150m was the same value give or take as SSN’s shareholding in SSU at the time it was committed.

It really isn’t important whether it did or didn’t any more I’d suggest (it doesn’t now), more the assertion that the VP of the US operation now he has had time to look back on his 18 months in the company reflectively, doesn’t fully believe that it existed in the first place…

Caved and ordered some DHB running clothing last night as the discount is particularly crazy

Ta, just ordered some trews, vest & a load of socks for £29.

Not sure how great value the £16 socks were at RRP but worth a punt at £2/pair.

Ordered a few peices of winter clothing recently. All delivered very fast. I did recieve Haribo (which I can’t stand)

It probably did exist – it was likely not a coincidence the $150m was the same value give or take as SSN’s shareholding in SSU at the time it was committed. Thus they could underwrite the value of the loan with the equity they held in the business without it being a lie nor needing to have the free cash on hand. Only when the equity in the business crashed and other parts of the SSN empire likewise could they then no longer afford it and even selling _all_ their shares would only raise them a few mil. rather than the $150m at the time of the commitment.

Yeah, I read it that the money was available via the value in other businesses. When the property stock crashed due to interest rises, etc, the 150m could no longer be guaranteed.

Administrators talking up the level of interest in buying Chiggle:

https://www.pinkbike.com/news/administrators-launch-sale-process-for-wiggle-crc-after-high-level-of-interest.html

I’m sure it’ll be attractive to some credible buyers apart from Mike Ashley.

I’d buy it, collapse one of the two into the other and dust off the old site.
stands a chance of making some money then.

Yes – fundamentally, I’m not sure what the point of both the CRC and Wiggle shop fronts and brands existing is. Wiggle does stuff (outdoors, running, triathlon) that CRC does not, but I’m not aware of anything that CRC does that Wiggle doesn’t. And prices are always identical. Maybe it’s catching habitual use from before it was not all coming out of the same warehouse.

I’d also be interested in knowing why own brand stuff is not just labelled as that – is DHB sold through any other avenue? Again, I’m no expert in consumer phycology but if it was branded ‘Wiggle’ would the consumer view it as lesser than they do if it’s labelled DHB? Obviously other retailers do this too – they are Apollo bikes not Halfords for example – and all the Tiwit style brands exclusively sold in Decathlon.

Again, I’m no expert in consumer phycology but if it was branded ‘Wiggle’ would the consumer view it as lesser than they do if it’s labelled DHB?

I’d expect so. Putting the retailer’s name on things suggests they’re generic products just with different labels on for different brands. A brand name suggests the product has had some development. And good brand names for retailers aren’t necessarily good brand names for products.

Chiggle’s product development for their brands like DHB, Nukeproof (clothes as well as bikes) and Vitus bikes has been one of their real strengths IMO.

Be more of a shame to lose that than to lose them as a retailer of cheap mechs or whatever.

Some good deals on their Fohn stuff too (another in-house brand) – paddle boards & wetsuits 75-84% off…..

Was hoping that there would be some break away by Nukeproof, Vitus & Ragley – especially if the likes of Ashley gets hold of it…….

Just hope they don’t end up like Saracen did (before Madison sorted them out!) and become BSO’s……

Bought some DHB shoes via a PSA having no idea they were a home brand, and very nice they are too for the few quid they cost.

The DHB running gear is far to cheap not to take a punt on. Just bought £30 through PayPal, lets hope it fits and gets delivered.

christ the bad experience stories with ss are like, what 15 years ago? Time to move on chaps.

Its STW, people still slate Pace for some less than decent frames decades ago with the RC303 etc (half of who I’d wager never even owned one!)

Ordered a Endura Singletrack onsie the other day and it arrived with Haribo!

Have just ordered 4 DHB Aeron 2.0 short sleeve jerseys with a RRP of £65, paid £5 for each!

Also ordered a DHB Merino long sleeve jersey with a £95 rrp for £10!

And prices are always identical

Not always.  eg:

https://www.wiggle.com/p/rockshox-lyrik-select-rc-debonair-boost-fork £384.99 vs £299.99 https://www.chainreactioncycles.com/p/rockshox-lyrik-select-rc-debonair-boost-fork

I think I’ve only ever seen Wiggle more expensive than CRC.  Never the other way round.

Its STW, people still slate Pace for some less than decent frames decades ago with the RC303 etc (half of who I’d wager never even owned one!)

😂, I had 4 pairs maybe, and a bodged repair or improv because they were sick of me before a full refund of some RC30T forks 23 /24 years years ago and I still cannot forget

Its STW, people still slate Pace for some less than decent frames decades ago with the RC303 etc (half of who I’d wager never even owned one!)

I ordered a F+R set of brakes (MT410’s) for £30 on Monday, arrived and fitted yesterday.

Also in the package………Haribo 😁

Allyharp I’ve bought Nukeproof Enduro bearing kits for £35 at Wiggle when they were still full price £70 at CRC, it’s always worth a quick check, and some things are not even listed on one site but present on the other.

Thanks for the heads up on the SUPs whoever that was – £219 for a Red Paddle Co touring sup package is mad!

DaveyBoyWonder
Free Member

Its STW, people still slate Pace for some less than decent frames decades ago with the RC303 etc (half of who I’d wager never even owned one!)

To be fair, there’s something about “we are refusing your warranty claim for your fully rigid forks that broke in half because you didn’t service them” that just stands out from the crowd.

“£219 for a Red Paddle Co touring sup package is mad!”

Did you get one?  I hesitated and were sold out by the time I got my wallet out.  Hoping my friend gets the one she ordered.

Drat.  I’d have bought one of those Red SUPs for my wife’s birthday.  What do we think of the Fohn ones?

Ordered by 2.99 NP headset as a spare for the big al ..  turned up 48 laters as if nowt was wrong

.. long may this speedy service and cheap prices continue 🙂

“£219 for a Red Paddle Co touring sup package is mad!”

Did you get one? I hesitated and were sold out by the time I got my wallet out. Hoping my friend gets the one she ordered.

Not read further back to see if anyone actually got a Red Board. Independently I came across one last night (a ride 10’6″) and ordered and paid for it. 10 minutes later I got a refund but no explanation – not sure if that’s because it was never in stock or if my highland postcode broke the delivery possibilities.

Felt a bit dirty even ordering it as had zero intension of using it – just selling in on through Facebook MP or the like for a healthy profit.

If I actually wanted one, I’m not convinced they are the same quality, but the Fohn ones are mighty cheap and I suspect more itwitit quality for a Lidl middle aisle price or better.

Nordisk tent just shipped, I think getting a groundsheet will cost more than I paid for it!

Ordered a Endura Singletrack onsie the other day and it arrived with Haribo!

Clearly this is down to whomever is packing the orders

Packer A. Includes the haribo

Packer B. Eats them

Nordisk tent just shipped, I think getting a groundsheet will cost more than I paid for it!

I ordered the groundsheet and ‘bedroom’ as well for ~£80, the groundsheet on its own is £315!

I was deliberating what to do for camping/sleeping arrangements for our Volvo and a Scandinavian roadtrip next year. This has settled it!

@RustyNissanPrarie

I went for the Alfheim, as we want the whole middle class ‘wood burner inside a tent’ glamping experience 🤦🏻‍♂️

@jonnyboi, same here.

Now, to find a zip in ground sheet for less than we paid for the tent…….

Taking a punt on a £150 Fohn Sup for the kids. Will update if arrives.  There’s some £30 paddles too.

Note that some items and postcodes, even sensible ones, aren’t compatible.

No reason to think it may not arrive.

I ordered and SUP last night, and a dropstich kayak (I was persuaded honest).
Note that the OUTLET10 code knocks another 10% of a lot of the black Friday and outlet stuff.
SUP, kayak and 3 buoyancy aids was less than £400. It’s still a reasonable chunk of cash but SUP was on the family wishlist for a while.

Got a message this morning to say the Mythique VRX is with Parcelforce and is expected to be delivered Tuesday.  Its unbelievable that its better specced and cost the same as my first FS, a Trek in 2003 – 20 years later.

Thats next weekend at Swinley / Hadleigh for Jnr!

I’m going to buy SUPs now, aren’t I? Dammit.

Parcel force are supposedly delivering the Nordisk tent today. 

Ordered some stuff at 20:50 yesterday, delivered today

I tried but they got me in the end – 24” NP Cub Scout ordered. Too big at the moment, so will be tucked away, but I’ll be surprised if it’s not needed in the next 6 months or so. Doubt I’ll see such a well spec’d kids bike for that price again soon (of course I’ll cry if they get discounted further)