- Thread starter
- #31
I didn't know they did surgery ?
Signa Sports with Liquidity issues .... (CRC/Wiggle/Bikester/Probike/Nukeproof/Vitus)
- Thread starter Zimmerframe
- Start date
Has this all come about because of the little packet of Haribo they stick in with every order?
Haribos!
The glory days, 10 years ago:
What, when the website wasn't utter shite?
I like Bicester. I found them to be one of few European sites that understood how to trade internationally including such aspects as reasonable shipping costs, including VAT and being clear a bout any customs charges. Many European sites were used to only dealing within the EU member states ( which included the UK originally) and had little or no experience of export.............and did not add VAT even for inter EU member state purchases. Their pricing therefore looked attractive.
At the same time as the UK left the EU a VAT charging regime was set up by the EU even for inter EU member purchases. I dont know if any of this had an impact on Sigmas Internet stores business but it probably did not help. We naturally focus on the bike industry but no doubt other sporting sectors suffered the same problems of high shipping costs etc, and that is now compounded by the energy crisis and recession in many countries.
At the same time as the UK left the EU a VAT charging regime was set up by the EU even for inter EU member purchases. I dont know if any of this had an impact on Sigmas Internet stores business but it probably did not help. We naturally focus on the bike industry but no doubt other sporting sectors suffered the same problems of high shipping costs etc, and that is now compounded by the energy crisis and recession in many countries.
Me too, although the traffic round the outlet village can be a bit of a twat...
All but confirmed.
singletrackworld.com
SIGNA Sports Financial Woes: Future of Wiggle CRC, Nukeproof, Vitus and more in balance
The future of some big bike brands is in doubt, as report of CRC Wiggle entering a self administration process emerge.
singletrackworld.com
ah...now that Bicester I do not like at all serving as it did as a roadblock on my way to Milton Keynes from Weymouth on business.
OK, looks some of the brands in the Signa Sports United group are today starting to file for insolvency, the first announced is Tennis-Point.
I expect Bikester and all the brands I listed above yesterday to follow.
The situation reflects the serious financial ramifications following the termination of the €150M loss of funding, which has now led to insolvency filings starting with Tennis-Point GmbH and potentially extending to other entities within the SIGNA Sports United Group including the ultimate parent company, SSU.
As of 13:34 20th October 2023, Tennis-Point | Tennis Shop | Tennis Rackets, Shoes & Clothing continues to trade.
I expect Bikester and all the brands I listed above yesterday to follow.
The situation reflects the serious financial ramifications following the termination of the €150M loss of funding, which has now led to insolvency filings starting with Tennis-Point GmbH and potentially extending to other entities within the SIGNA Sports United Group including the ultimate parent company, SSU.
As of 13:34 20th October 2023, Tennis-Point | Tennis Shop | Tennis Rackets, Shoes & Clothing continues to trade.
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Here are a list of the brands that operate in the group:
- Bike :
- Probikeshop
- Fahrrad.de - FILED FOR INSOLVENCY
- Bikester - FILED FOR INSOLVENCY
- Wiggle - In Administration
- Chain Reaction Cycles - In Administration
- Brügelmann
- Nukeproof
- Vitus
- Tennis :
- Tennis-Point FILED FOR INSOLVENCY
- TennisPro
- Tennis Express
- Outdoor :
- Addnature
- Campz - FILED FOR INSOLVENCY
- Team Sports :
- Outfitter
- Ballside
- Stylefile
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GeordieKenevo
Active member
Nukeproof culling riders already
Ronan Dunne now also listing himself as "Factory rider for" so Nukeproof no longer mentioned
Ronan Dunne now also listing himself as "Factory rider for" so Nukeproof no longer mentioned
Thanks a lot for this heads up! 
Bikester.fr remains again on sale.. but how many time ?
I think the old saying applies:
"We ain't seen nothing yet".
"We ain't seen nothing yet".
blacklab14
Member
Just waiting/hoping for this to move to shipped! Will feel much more comfortable, aftersales/customer service could be an issue in the future but at least I will have a bike!
I blame spellcheck for my typo! K K K K K.....( training my spell check)
- Thread starter
- #53
Looks like there's various things going on in he background. Hopefully, mainly for the sake of all the people that work for these companies (who seem to actually genuinely be passionate about what they do and also produce much of the best and certainly best value products out there), but rather than doing the usual buy up, feck up, dump model - they do seem to be trying to move things instead to where they might be better managed.
"(Alliance News) - Frasers Group PLC on Tuesday said it agreed to acquire Sportscheck, "one of the leading sports retailers in Germany", from Signa Retail Department Store Holding GmbH for an undisclosed fee.
Frasers, which is based in Shirebrook, England and owns House of Fraser, Sports Direct and Flannels retail chains, said the acquisition will enable Frasers to grow its presence in Germany, one of the biggest sports markets in Europe and a key focus area for the Sports segment.
Frasers said completion of the transaction is subject to merger control clearance. It expects closure of the deal to occur in the first quarter of 2024, saying it will update the market in "due course". "
"(Alliance News) - Frasers Group PLC on Tuesday said it agreed to acquire Sportscheck, "one of the leading sports retailers in Germany", from Signa Retail Department Store Holding GmbH for an undisclosed fee.
Frasers, which is based in Shirebrook, England and owns House of Fraser, Sports Direct and Flannels retail chains, said the acquisition will enable Frasers to grow its presence in Germany, one of the biggest sports markets in Europe and a key focus area for the Sports segment.
Frasers said completion of the transaction is subject to merger control clearance. It expects closure of the deal to occur in the first quarter of 2024, saying it will update the market in "due course". "
A tennis shop accepting no returns us kind of funny
CarolinaCrawler
Active member
Signa closes North American offices as it prepares for insolvency filings
PARK CITY, Utah (BRAIN) — Signa Sports United has closed its U.S. offices, which included operations for the Vitus and Nukeproof bike brands and the Hotlines wholesale distribution business, all based in Park City.
www.bicycleretailer.com
Kyle Strait just posted this on instagram.....
- Thread starter
- #56
Just got my Forks back from Bikester ! (Not to be easily mistaken with Bikenge - Maniema, Congo ...)
Warranty due to faulty damper. Suntour have changed it and upgraded to the R2C2 (or an R1C2, but I can't find one of those listed) - so some things are still happening as normal - long may it continue..
Warranty due to faulty damper. Suntour have changed it and upgraded to the R2C2 (or an R1C2, but I can't find one of those listed) - so some things are still happening as normal - long may it continue..
Amber Valley Guy
Active member
I watched a YouTube vid this morning from a guy running a bike shop in Florida. He explains what's going on.... not just with Wiggle/CRC but the whole industry and allied industries, like clothing. Well worth a watch. YouTube:
The Bicycle Industry is in Big trouble! (Found on his ytube Chanel)
GC Performance
The Bicycle Industry is in Big trouble! (Found on his ytube Chanel)
GC Performance
What's the gist of what he was saying?
- Thread starter
- #59
He's basically saying that lots of manufacturers and sellers are over stocked and trying to dump stuff at lower prices. With some of the on-line retailers then having to lower prices to compete with the bigger on-line retailers who are selling low to move stock to get some cash back - Making it harder still for bricks and mortar stores being asked if they can price match.
The main market for them is very slow and they're struggling to sell bikes, except the very high end models where people who are financially unaffected are still buying the top spec bikes like S-Works - He didn't mention the word "Dentist".
Random thought, the demise of mega warehouse box guys could well benefit LBS. Whether it's good for the consumer is debatable but it does feel like the market is undergoing a structural change.
Different random thought. Wiggle/CRC are so big, there's no way they'll disappear. Maybe buckle up for Mike Ashley & Wiggle/CRC/Evans 2.0
Different random thought. Wiggle/CRC are so big, there's no way they'll disappear. Maybe buckle up for Mike Ashley & Wiggle/CRC/Evans 2.0
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