Possible demise of CRC / Wiggle

Stuff like pivot kits still £20 for my Reactor :(

They will most likely be cheap 

As an owner of two vitus bikes I’ve been looking at frame spares and one of the few areas with zero discounting. Fair enough really as better they are not out of stock because everyone has squirreled then away as sold off for buttons but equally i hope new owners make them available as and when needed

Regarding NP pedals and Shimano cleats, work absolutely fine with the CS pedals, royal pain in the arse with the CL and had to change to NP cleats. That’s with 5:10 Kestrel’s, Crank Brothers Mallets and some old Giro Terraduro.

I stocked up and now have 6 spare sets of cleats! Contemplating a spare set of CL pedals as well!

Might see if it is not too late to cancel the DH CL pedals for the Trail CS then.

Great I have Mallet shoes and have ordered the CS pedals :)

 equally i hope new owners make them available as and when needed

The process seems to be taking so long that I’m wondering if there will be new owners. Fingers crossed there’s due diligence going on (by the sounds of the parent company health it could well be a complicated situation) and they emerge as more than just some brands sold on.

i hope new owners make them available as and when needed

For stuff like dropouts and hangers they are so easy to make and there are so many owners out here that I’m sure they will be made available. Pivots etc I’m less confident but there’ll be a solution somehow or other.

The process seems to be taking so long that I’m wondering if there will be new owners.

If they were profitable, theres no reason they can’t just continue as they were but with different owners, surely?

Well this isn’t ideal the (overall?) parent company Signa has now filed for insolvency with debts that total about 5 Billion Euros

5 billion…. now that is doing debt properly… don’t mess about, get it done RIGHT !

Another update on the parlous state of affairs

https://www.cyclingweekly.com/news/wiggle-closes-international-shops-to-solely-focus-on-the-uk-as-it-searches-for-buyer

Focusing on the (probably) more profitable part of the business sounds like good news to me.

well, they werent giving us thw reduced prices anyway, so no great loss

the decision has been taken to pivot the business model to solely focus on the UK domestic singletrack world market which currently accounts for 85% of the group’s revenues.

the decision has been taken to pivot the business model to solely focus on the UK domestic singletrack world market which currently accounts for 85% of the group’s revenues and 0% of its profits.

they’ve been pumping stuff out at 90% reductions or more, loads have been sold off at £1, loads of gore, loads of Ron hill today, not massive stock levels but some at 99% reductions, anything non cycling, wetsuits, running shoes,  have been pennies on the pound, this is a liquidation, it’s done and gone surely

Popped for the £15 trainer and an ANT+ dongle plus a couple of other bits.

I might just have a go at assembling a poor man’s zwift setup just to give it a whirl.

It is starting to feel a bit like we’re a pack of vultures, picking at a commercial corpse. Not that I have a problem with this, but I can’t help wondering how (and how soon) this is all going to come to a shuddering halt…

Fingers crossed they can work it out

I agree… this is liquidation! Just can’t see who would be supplying them currently.

I’m hoping it’s consolidation rather than liquidation. Some of the stuff they seem to stock is… interesting

Might see if it is not too late to cancel the DH CL pedals for the Trail CS then.

Maybe it’s down to the individual pedals as I’ve had no problems with both sets of pedals and Shimano cleats.

The Trail pedals look nicer though!

 I can’t help wondering how (and how soon) this is all going to come to a shuddering halt…

Not soon enough for the rest of the bike trade I imagine.  It must be hard to compete in this “Chiggle Liquidation” climate, just at the time that bike shops (as all retail) are against the wall.

I certainly won’t be going to my LBS for headsets, bottom brackets, pedals, stems, bars anytime soon with my stockpile!

Just can’t see who would be supplying them currently.

The speed with which stuff keeps being discounted and selling out, I reckon this is the administrators working their way through and emptying the racking, just to get some cash to pay off as much of the debt as they can.

They can’t have any lines of credit now and nobody will supply them anything without up front payment (assuming they’re already square).

Whenever any business bullshitter starts using the term “pivot” you know they’re in trouble. Nobody’s going to be buying chiggle, the competition are hanging tight and waiting for them to be finally be wound up…

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.

Wiggle closes international shops

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.