There’s “trading” and then there’s saying you have items in stock, not actually having items in stock, taking the money anyway. Even without the liquidation issue, I believe the shop had a reputation for doing that anyway and it really pisses off customers (see also the amount of hate Tredz get for doing the same)

Don’t know the full story with ubyk but twice they have done this to me long before this whole saga so it’s not something new. Placed an order for a custom build Hope wheel about a year ago and was quoted a price, was sent a direct link to order. Then after 10-14 days I contacted them as I’d not heard and was advised the person who quoted me was fired and they couldn’t fulfil the order at the price I was offered. Not even the decency to let me know.

I’d ordered a rear Hope wheel from them previous also and they had sent me both front and rear. Being honest I contacted them and they arranged a collection. I didn’t have to, and I didn’t send it back for anything in return, just doing the good thing, but didn’t even get a real thanks. Just a panicked follow up email from them when I took a day to reply to arranging a collection.

Not the best experiences. Still sad for the staff if there’s any major job losses. But management/website was a joke.

The full liquidation disclosure is now online
https://document-api-images-prod.s3.eu-west-1.amazonaws.com/docs/W7ASKoWYg1eKl3qknypeDW1NglpLt55vMHRZRQTXpN4/application-pdf?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Content-Sha256=UNSIGNED-PAYLOAD&X-Amz-Credential=ASIAWRGBDBV3PZJBAADA%2F20190124%2Feu-west-1%2Fs3%2Faws4_request&X-Amz-Date=20190124T143702Z&X-Amz-Expires=60&X-Amz-Security-Token=FQoGZXIvYXdzEJz%2F%2F%2F%2F%2F%2F%2F%2F%2F%2FwEaDA6A4MlY4mlwEAmHSiK3A%2FuijEWUNy6RrQkYXLUgwOffPbr%2FJ5PTwQRGECrr4jJc4YThaFtFJRqS3TzEXLPN7FLN%2B06wi15Lfa43k%2FRjI6byII30%2FcGvzsr8z0OoRzVackDxoMPuNpY%2BfHHbQZZk8P2gZ4eCEJ%2FB2W%2BhSnAb61hEjlwUHUKgiQGn4CmOukLfa%2FL6AFN4sTYsfFImQzKU6GP0HOo5AAxd33%2BG%2FZ34PuloU9mFhEtFyfgGQmcDhwr37fhmeMC4C8f%2B03Y4GAsoFWkoKZB8BoKotX1BIejtGipFG%2FEaFvo%2FQy0hfyjy%2FkCEdeE5QdSJFTRxXr9n1su%2F3tR3xtAxtUdtuBmYC6l5dLswnaajRjc5J229Yudv5W1D3st6xJTU9l%2FgZp44MCF%2Fa4%2BqV6zC4Z3%2BbKBVBM9KjBcouWeX0fDxVfr5SAX7cjmBoFoqxwS32scFgaCilePAovdE9inyYc4WBxdGn%2BePxjeyhh3lruJdQOLD2jWvNz1%2BBBMUdkN5MBp9EgpuSK9kA6UK1aFO00aVVGAqdor0VqDoHlHGyVsQ8SO3uFyzLLNAaGrUMyf%2FUzhodw%2BJHmcuBj8c7VEPlw8o36im4gU%3D&X-Amz-SignedHeaders=host&X-Amz-Signature=b8edb3f1b421952630599675466a2ec2beb8cea9196ad33ba94e588f793be1c7

Not sure who would class the name as an asset anymore!
Also note that ‘N.F.Coventry’ was a preferential lender and gets his money first.

Claimed stock of over £400k (liquidation value estimate of £120K) is interesting. I also note that James Heath signed the liquidation docs on 19th December last year.

I always read these things with interest. That link won’t work btw but this one ought to: https://beta.companieshouse.gov.uk/company/07633141/filing-history/MzIyNDkzMjg4MmFkaXF6a2N4/document?format=pdf&download=0

It possibly explains why I’ll never be rich, but I can never understand how a small business can operate while owing that much to suppliers and to individuals. A million quid worth of debt! Must be like playing the slot machines: Keep on putting money in and hope that it eventually pays out.

Reading that list – I am amazed at the amout of credit they were getting from some of the suppliers.

£61k at Jungle, Zyro at £50k, a handful of £25k+ and lots of others at £10k +, I didnt think Hope offered credit but they are on there too.

I imagine they were stretched well beyond the usual 30 days with a lot of suppliers, that or accounts just were not being strict with them – Not something we could get away with at my work, 3 days late on a 30 day payment and in comes a red email asking for payment or immediate communication, you certainly wouldnt be allowed to order anything else until the account is up to date.

You are right – Ubyk must have been on the ragged edge for a long time, literally using a list of companies to bank-roll their own, i would think it would have taken a long time for things to actually pay out, that or huge investement.

Hope STW get their £58 back.

What a bit of a mess.

Polite phrasing courtesy of the STW swear filter!

Anyone had any actual help from Peter at peak bikes/ubyk yet?
He started off with plenty of good promises to me but has now gone quiet.

Looked up Evans papers to compare numbers, blimey! A few headliners
Brompton £125K
Endura £600K
Scott £550K
Trek £1.9M
Specialized £3.9M; no wonder the rrps for their 2019 bikes went up overnight!

(It also suggests of the total £20M worth of stock, half wasn’t covered by retention of title claims).

You’d imagine they would be insured against that sort of hit, whether they were covered at the end would be interesting…

Anyone had any actual help from Peter at peak bikes/ubyk yet?
He started off with plenty of good promises to me but has now gone quiet.

No offence intended, but I don’t imagine you, as an individual, are his top priority.

https://www.drapersonline.com/news/brands-pull-stock-from-house-of-fraser/7031686.article

I saw the figure that Cashly had written off £5bn in debt in his high street “rescue” or £5bn of other people’s money. As this all shakes out it’s going to cost a lot of people a lot of money, perhaps the brands might prefer the lower risk of not dealing with a 3rd party?

I wish the new owners all the best, especially if they can keep a bricks and mortar shop going too.

If you’ve not got a refund on an unrealistic deal pre liquidation I’d say get in contact with your bank quick.

If you aren’t out of pocket but ordered something at cost or below, I’d be thinking where that money or order should be going based on more than just price.

No offence intended, but I don’t imagine you, as an individual, are his top priority.

No offence taken.
Why promise to help then not bother though?
Last contact he told me he was waiting for Hope to get back to him about my order…
He seems to fit in with the ubyk customer service methods perfectly.

Last contact he told me he was waiting for Hope to get back to him about my order

And presumably he still is.

FWIW though if I was in his position I’d be telling you to **** off at this point, he has absolutely zero financial, legal or moral obligation to help you with anything much less fulfil an order at an unreasonable discount from a business he has nothing to do with other than buying the assets.

I was in his position I’d be telling you to **** off

That’s the point though he didn’t.🙄
He said he’d help them tries to blame Hope.
Same old ubyk routine.

So, just looking at the Hope customers, Ubyk owes £26k, let’s assume the average sale was £200, so that’s 130 customers that probably want the gear, at the price they paid, which may total less than £26k. Plus I’m pretty sure hope won’t give them credit for that. I imagine that’s a lot of work to chase through and sort out, on top of all the trials and tribulations of starting a business, for nothing, maybe even a loss. And that’s just one manufacturer. I’m sure he’s trying to help, but it’s not going to be a quick turnaround.

That’s the point though he didn’t.

No, he didn’t. But with the attitude you’re showing I would now. Remember who is doing who the favour you ungrateful twunt.

Nice.🙄
What favour is it he’s actually done for me again…
Wish he’d have just said he wasn’t going to help to begin with.

Singlespeedstu, you are being ungrateful here. The new owner has no obligation to sort you out. A bit of gratitude for him trying to do the right thing would not go amiss.

Pauly.
No one has said he has any obligation.
He should have been straigh from the start instead of making an empty promise.

Just move on from it. Life’s too short. You aren’t out of pocket.

Jesus wept…

I with you on this Singlespeed why offer to help – As your not out of pocket just move on loads of good retailers in the market place.

So the moral here is, don’t offer to help unless you can help in a timescale that is acceptable to the person you are helping. Otherwise don’t bother, as you’ll just be as bad as the person who did wrong in the first place.

Riiight.

squirel.
Not quite sure why you’re so keen on giving your expert opinion when you’ve not been through the whole ubyk palava but feel that it’s ok to just randomly insult me.
I take it you’re fine with people promising you help then blaming other companys with a good reputation for them not delivering their promises…
It’s not about me not getting a false promise it’s about Hope getting blamed and a warning to others to beware that the new owner of Ubyk seeming to be as bad as the old owners.
There wasn’t a hope in hell of me ever giving ubyk any of my money again unless the new owner could prove to be trustworth.
Sadly he seems to have kind of slipped into the ubyk customer service of old pattern which is a shame.
Actions speak louder than words.

Remember who is doing who the favour you ungrateful twunt.

No-one is, that’s the point you fanny.

No-one is, that’s the point you fanny.

So because he hasn’t delivered yet, that definitely means he’s not helping?

So because he hasn’t delivered yet, that definitely means he’s not helping?

Proving a negative? Good work.

tom.
It’s been a fair while…
Don’t let a lack of facts put you off though.

I’m not saying it hasn’t. What I am saying is, is that while this is high on SSStu’s ‘list of things that need sorting’ it’s probably equally low on Peaks List.

If you need some kit, buy it. If you want kit at an unsustainably low price, patience will be a virtue.

I’m with Stu on this one, he was offered assistance by peaks and now they are nowhere to be seen. It’s right that they are under no obligation to offer help but they did which was good of them… but why offer help and not follow through.Now I’ve not lost any money in this fiasco but what I do know is that I will never spend any money with ubyk or peaks.

tom.
As i said up there it’s not about the “kit” it’s about the attitude and blaming Hope.
And also as a warning to others.

Do you know that Hope have got back to him and he’s not telling you, or that he hasn’t contacted them?

Given that Hope have been stung pretty hard by Ubyk (which is interesting in itself, but that’s another story) Do you think they will be jumping through hoops (heh) to help him honour the deals that lead to them being taken for all that money?

I get that the lack of comms is frustrating, but assuming the worst and warning folk off based on that assumption isn’t going to help anyone.

Tom.
You’re just looking for an argument that i’m not interested in.
Have you actually looked at what happen with ubyk and Hope…
Can you even begin to understand that it has nothing to do with Hope not getting back to him…
Can you not see that continuing to blame Hope is not the way to win customers back.
Either way I’ll just leave you to it and hope that you don’t have to suffer what they’ve put others through.
For me it was a pair of wheels that didn’t really matter for others it was a lot more…

Have you actually looked at what happen with ubyk and Hope…

I know a few things, but wouldn’t claim to know from all sides. Doesn’t sound like it was a great relationship from what I’ve heard, but that’s not for here.

I still hope Peaks can make a go of it, and wish them the best, and hope the ubyk stigma doesn’t kill them.

I think, if they keep the ubyk name as appears to be the case with the website, they’ll be ****.

I still hope Peaks can make a go of it, and wish them the best, and hope the ubyk stigma doesn’t kill them.

That’s the thing though tom.
So do I.
But they’ve just slotted into the false promise model of the old ubyk.
Shame really.
And that’s coming from a customer that has had to cancel orders before because of false promises from them.
I kind of felt sorry for Pete until the false promise BS started.
Now he’s just been bumped into the untrustworth list. Which TBF isn’t very big with me.

Tomhoward why so defensive of peak bikes? They don’t appear to be anything to do with you so why the concern?

They aren’t, I just want them to get a fair crack of the whip, without being hamstrung by the sins of the previous owners. On the face of it he’s trying to do right by folk, but even that isn’t good enough.

Takes a lot of bottle to start a bike shop ATM, I certainly wouldn’t, but wish them the best, and hope they don’t make me look to be a mug.

tom.
I’m just passing on my experiences to make people aware.
Maybe if you want to support them do it with your hard earned…
I just hope you don’t get stung.