Wiggle Chain Reaction Cycles parent company suffering 'severe liquidity challenges'
Retail giant Signa Sports United cites its 'bike segment' brands as underperformers
www.cyclingweekly.com
Wiggle and chain reaction on the ropes ?
- Thread starter wassy
- Start date
www.cyclingweekly.com
Wiggle Chain Reaction Cycles parent company suffering 'severe liquidity challenges'
Retail giant Signa Sports United cites its 'bike segment' brands as underperformers
Bubble has burst
I've bought from CR/Wiggle many times but I must admit that it has become less and less over the last year or two. I can't really put my finger on why? Perhaps we're spoilt for choice?
A shame if they go under. Always good service, and decent prices (a bit like sportsbikeshop)....
hard internet sales , high overheads , low turnover ...loss of footfall in the shops , as winter starts , everyone wants it cheap...pick an industry , it's happening everywhere , don't use your dealer for what you want , off down the slippery slope , in the race to the bottom.
what gets me is ...how did they end up with £319M in debt ?
who fucking signed for that !
what gets me is ...how did they end up with £319M in debt ?
who fucking signed for that !
Hard to know who's selling bike parts then, because these on line guys way undercut local bike shop prices.
The B word has to be part of this. Very difficult to maintain international custom when faced with heightened costs of export compliance.
Used to order from wiggle and sportsbike can't now as the cost to import is higher than competition based inside EU. It's terrible as their service was exemplary
Used to order from wiggle and sportsbike can't now as the cost to import is higher than competition based inside EU. It's terrible as their service was exemplary
Agreed ^^^^^^^^
In no particular order for bike parts I use
Merlin Leyland
Tredz ( part of Halfords)
Halfords
SJS Cycles
Amazon
LBS
Wiggle / Chain
Decathlon
on anything more than say £40 eg rear cassette/ new brake calipers etc I price check them all. There is usually an offer to be had.
This ^^^^^^ plus retailers large stockists placing multiple orders on different Tier1 suppliers for identical stock. When one supplied the retailers cancelled outstanding orders on the majors leading to masses of unsold stock, cashflow blah blah.
My suggestion would be that 12 months of high energy prices coupled with high interest rates have hit the leisure market. It’s not a case of the bubble bursting, more a case of people having to prioritise where their money gets spent.
If I recall correctly Chain Reaction was started in NI by a lad who took over his dads old school bike shop in Carrickfergus. I remember being in Module (used to be bedside it) and being amazed at the number of people leaving at finishing time in the warehouse. He sold it for a fortune and bought a load of things along the way including Belfast Harley Davidson.
Barry
Barry
Gone
Back !
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Great, I need to get a spare Shimano 11 speed cassette having just done the chain and cassette on my EMTB a few days ago. Good to see them back in business, I hope they make a fresh start.
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