Viewing 40 posts - 1,561 through 1,600 (of 1,822 total)
  • Possible demise of CRC / Wiggle
  • johnhe
    Full Member

    Im absolutely gutted that the Belfast store is closing. I’d hoped that a new buyer for the whole shebang would be found and the store might survive. That’s where I try on all my bike clothing before buying – dunno about you folks, but I find it very difficult to judge sizes and feel of clothing without actually trying them on in the flesh. Bummer! Bummer bummer.

    and more importantly, having been laid off twice, I’ve some idea of the trauma for the poor employees, which is just awful.

    crankrider
    Free Member

    The amount of time this is taking is making me think much more that any buyer wont ‘save’ much of CRC/ Wiggle at all.

    There can’t be much stock left now, there will still be some heavy debts – especially to companies in the far east that supply the in-house brands so what is really up for purchase other than a website, stock nobody really wants and debt, oh and Nukeproof of course but who would buy the whole thing to get the brand (Again with no stock)

    Its looking a bit bleak if you ask me – At least the employees have some warning here, small consolation I know.

    dirkpitt74
    Full Member

    Just see that CRC/Wiggle/Signa owe Sam Hill £34k….

    dcxs
    Free Member

    Just a heads up that my EU return from 20/12 has been returned back to me again. Customer service have given multiple reasons and I feel none hold up (I’ll keep the details vague so far). Long story short I think this is the end and buying anything is probably risky even in the UK.

    breninbeener
    Full Member

    Ooh, i was going to return items too….i think i shall wait for now

    nickjb
    Free Member

    There can’t be much stock left now

    I noticed when searching for “Ragley” only 6 items came up (three mech hangers, cable guides, blanking plates and some gravel forks). Crazy given how much Ragley stuff they have had

    martinhutch
    Full Member

    The list of creditors makes depressing reading when you see how much is owed to some smaller companies who probably can’t afford to take that kind of hit.

    Jan 4th filing

    cp
    Full Member

    I’ve just had some great customer service from them the last few days. I’m not sure I’d be worrying based on a very vague return experience.

    thisisnotaspoon
    Free Member

    There can’t be much stock left now, there will still be some heavy debts – especially to companies in the far east that supply the in-house brands so what is really up for purchase other than a website, stock nobody really wants and debt, oh and Nukeproof of course but who would buy the whole thing to get the brand (Again with no stock)

    That’s not entirely how it will likely work out. The debt will likely get written off with the sale of the business assets.

    Companies do get sold with debts, but not (AFAIK) out of administration. The administrators will add up all they’ve made from selling assets, IP, real estate etc. Pay themselves, then HMRC, then anything left is split between the other creditors. Then the ‘new’ company starts with a clean slate.

    kelvin
    Full Member

    Crazy given how much Ragley stuff they have had

    Someone looks to have got their hands on a load… whether that was from Wiggle stock or direct from a let down supplier, I don’t know…

    https://www.bananaindustries.co.uk/search?q=ragley

    ricbikemag
    Full Member

    I ordered one of the £400 Vitus Sentier 29 VR hardtails on 6th Jan and have just had a dispatch notification (due tomorrow). Should I be concerned that apparently it is being delivered in two parts (it was built by CRC)?!

    Anyone received their’s yet – I’m sure it won’t be a problem, just curious?

    northshoreniall
    Full Member

    @ricbikemag – I wouldn’t worry – mate and I ordered the Sentier 27, his showed as 2 parts – both bikes delivered, intact, yesterday. The 48hr delivery was somewhat longer – ordered 5th, delivered 15th, but both got here.

    gooner69
    Full Member

    Did anyone get a set of the 650 prime gravel wheels, that they actually dont need?

    Cracked a rim at the weekend so happy to pay a little premium if someone wants to move a set on?

    ricbikemag
    Full Member

    @northshoreniall cheers, good to know 👍🏼

    branes
    Full Member

    On the refunds, I sent something back on 23 Dec, they eventually got it on 1 Jan, and got the money back on 4 Jan. Seems OK to me but obviously things could change quickly.

    thols2
    Full Member

    Rich_s

    I understand there’s a ready market for On/Off switches for cockpit voice recorders.

    The on switch is where the shortage is, there’s no shortage of off switches.

    escrs
    Free Member

    Im finding more and more stuff i want to buy is cheaper elsewhere, is out of stock or says stock coming soon

    Its got to a point where ive decided not to renew my Wiggle+ for this year and my Platnuim discount has lapsed

    Shame as ive been uisng them since they were Butler Cycles in Southsea and they were a good local employer and still have a small office based team here in Portsmouth

    chakaping
    Free Member

    Did anyone get a set of the 650 prime gravel wheels, that they actually dont need?

    I’ve messaged you about some non-Prime carbon gravel wheels 🙂

    thisisnotaspoon
    Free Member

    oh and Nukeproof of course but who would buy the whole thing to get the brand (Again with no stock)

    Lunchtime ride ponderings:

    They’ve cleared out Ragley, maybe it was a small brand and wasn’t worth much more than the stock?
    They’ve sold off all the Vitus MTB’s, but not the road bikes, my guess is they’re going to try and package that up as a road brand and sell it separately.
    Same with Nukeproof? They sold of the gravel framesets a while back. Leaves the core business of the MTB’s as a nice package for someone to take on.

    Which just leaves the big-ticket physical/virtual assets of the shopping side of things.

    And the assorted other in-house brands (lifeline, DHB, etc), which as mentioned before probably aren’t worth all that much as a brand without much of a going concern (see Brant buying Onza for less than the price of a 2nd hand Fiesta). DHB probably doesn’t have enough brand recognition to appeal to the likes of Mike Ashley or VC’s in their own right, but might appeal to another outdoor clothing brand with no cycling presence, like Rab or Terra Nova, they’d have the resources to bring bits of them in house and make savings. Whereas Lifeline, every distributor already has an in-house brand of tools and consumables so I can’t see that surviving outside CRC.

    purple_moose
    Free Member

    The re-platforming of the ecommerce solution which was part of the website redesign was outsourced

    Kramer
    Free Member

    Yeah, I’m not sure how much value there is in a boutique brand like Ragley. They’ve always been a bit under the raydar.

    a11y
    Full Member

    Its got to a point where ive decided not to renew my Wiggle+

    Can’t renew anyway – it’s not currently available to renew or take out. I tried as mine expired on 27th Dec and queried it on their chat when I couldn’t get it to renew. Not surprised TBH as it was mega VFM for the next-day postage.

    superstarcomponents
    Free Member

    Oh it was so obvious. That banana industries shop thing with virtually no details of who they are… I thought it smells very Planet X. I did find the company details and went on companies house and BINGO  I’m straight on the money davie boy

    My money is on Dave buying all the stuff CRC failed to pay the factory for as a highly likely guess.

    made my day that.

    Neil SuperstarComponents

    DT78
    Free Member

    looks like he boughtup the cheap roof tents as well….

    superstarcomponents
    Free Member

    And apparently a bankrupt bike frames brands whole stock which he is selling back to them in drops as they can afford it to relaunch like nothing happened. Like the bike industry crack dealer🤣

    I didn’t know Brant bought Onza, interesting… 

    Neil SuperstarComponents 

    branes
    Full Member

    Oh it was so obvious. That banana industries shop thing with virtually no details of who they are… I thought it smells very Planet X. I did find the company details and went on companies house and BINGO  I’m straight on the money davie boy

    Yep. Funnily enough I went down the same rathole when Brant linked to their socks  which all links up too.

    the-muffin-man
    Full Member

    And apparently a bankrupt bike frames brands whole stock which he is selling back to them in drops as they can afford it to relaunch like nothing happened. Like the bike industry crack dealer🤣

    I heard that from a good source the other day too.

    sillyoldman
    Full Member

    Oh aye? Frame brand?

    Andy
    Full Member

    Isnt that the old old well documented story thats part of the Stanton relaunch? Good spot on Banana tho’.

    BruceWee
    Full Member

    And apparently a bankrupt bike frames brands whole stock which he is selling back to them in drops as they can afford it to relaunch like nothing happened.

    Well, except the 800 or so frames that were still in the factory but the less said about them the better.

    crankrider
    Free Member

    I like Stanton bikes and glad they have survived but did find it a bit odd how the ‘internet’ seemed to label the investor who had ploughed almost a million quid into the business evil because he wanted to see some return, a million bloody quid – gone.

    dogthomson
    Full Member

    For those who have had their cheap Virus HTs delivered, when did you order?

    We ordered the Sentier VRW for my wife on 6th a Jan and still haven’t had a dispatch notification.

    chakaping
    Free Member

    Well, except the 800 or so frames that were still in the factory but the less said about them the better.

    The ones that STW ran that weird article about when they showed up on a German(?) site?

    I like Stanton bikes and glad they have survived but did find it a bit odd how the ‘internet’ seemed to label the investor who had ploughed almost a million quid into the business evil because he wanted to see some return, a million bloody quid – gone.

    Yeah, that was more the PB comments than here but I do agree. Wasn’t the investor that had run the company so far into the red eh.

    Kramer
    Free Member

    the PB comments

    🤷🏼‍♂️

    BruceWee
    Full Member

    The ones that STW ran that weird article about when they showed up on a German(?) site?

    Yeah, we never did find out if Stanton and 1bike4life used the same factory or not.

    crossed
    Full Member

    For those who have had their cheap Virus HTs delivered, when did you order?

    We ordered the Sentier VRW for my wife on 6th a Jan and still haven’t had a dispatch notification.

    Same here.
    Ordered theVRW on the 6th. Got dispatch notification last week and the bike arrived yesterday.

    northshoreniall
    Full Member

    @dogthomson – I ordered 5th, turned up 15th. I know somewhere on the PSA Vitus thread someone said been advised may take until Feb for delivery. Some have contacted and said willing to take without their PDI – so you need build bike more than standard delivery.

    zomg
    Full Member

    @purple_moose

    The re-platforming of the ecommerce solution which was part of the website redesign was outsourced

    Thanks for the link. Speaking as a grizzled software engineer that article consisted almost entirely of red flags. The old system might have been a crufty nightmare creaking at every interface, but a ground-up rewrite is pretty much always the wrong choice.

    matt_outandabout
    Full Member

    Realistically once this blip of bankruptcy stock dumping is over I’m certain everyone will go back to 10% discounts max and RRPs will all go up 20-30% to reflect reality. Prepare to pay alot more soon!

    I suspect this too.
    What will be odd is that there is a *lot* of very cheaply bought kit and bikes around, and the second hand market will be somewhat fubared. And we are still at a time of hugely increased household living costs. This may have an impact on new purchases through the next couple of years…

    Blazin-saddles
    Full Member

    In case anyone is worrying about returning stuff, I returned a Castelli jacket on Thursday and got a full refund this morning,  which is probably quicker than it used to be!

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