Signa Sports with Liquidity issues .... (CRC/Wiggle/Bikester/Probike/Nukeproof/Vitus)

[Mikerb]

Not sure it will be clear what happens to various brands like Nukeproof until the IP purchase details are published. The purchase may not include all of CRCWiggle IP. I can see how clothing brands like DHB could be integrated into Sports Direct because all you need is ownership of the designs. Not sure how a bike brand could be assimilated by say Evans without also taking on the design and support team. A bike brand is much more than a name.

 

[Mikerb]

Not sure it will be clear what happens to various brands like Nukeproof until the IP purchase details are published. The purchase may not include all of CRCWiggle IP. I can see how clothing brands like DHB could be integrated into Sports Direct because all you need is ownership of the designs. Not sure how a bike brand could be assimilated by say Evans without also taking on the design and support team. A bike brand is much more than a name.

...could go the way Muddy Fox went?

 

[RustyMTB]

CRC signing off.

 

[Doomanic]

 

[CarolinaCrawler]

This hit me in the feels.

 

[Dax]

Such a sad end to a formerly great company. Before CRC got bought by wiggle, they were excellent.

 

[johnnystorm]

Not sure it will be clear what happens to various brands like Nukeproof until the IP purchase details are published. The purchase may not include all of CRCWiggle IP. I can see how clothing brands like DHB could be integrated into Sports Direct because all you need is ownership of the designs. Not sure how a bike brand could be assimilated by say Evans without also taking on the design and support team. A bike brand is much more than a name.

The various design staff have announced on LinkedIn, etc. that everyone has been let go, beyond a skeleton crew in the warehouse to handle the last few sales. When Ashley took over Evans they carried on selling Pinnacle bikes to the same design as pre-takeover with no changes until they were obsolete and quietly dropped them. Maybe Nukeproof will live on for a season or two more in the same fashion but they're a bit niche for the usual Ashley owned brands.

 

[ficorama]

Finden Sie Hier Ihren Perfekten Nukeproof

Eine Große Auswahl An Nukeproof, Die Sie Kaufen Können, Was Auch Immer Ihr Stil Ist!

www.rabattnukeproof.de

hello everyone. maybe if you know if this is a nukeproof site? not sure since they start with rabatt... thanks

 

[Arminius]

Finden Sie Hier Ihren Perfekten Nukeproof

Eine Große Auswahl An Nukeproof, Die Sie Kaufen Können, Was Auch Immer Ihr Stil Ist!

www.rabattnukeproof.de

hello everyone. maybe if you know if this is a nukeproof site? not sure since they start with rabatt... thanks

Fake Shop! -> Shop Checker

 

[ficorama]

Fake Shop! -> Shop Checker

Thanks

 

[irie]

The Signa/Benko story continues.

Signa founder Rene Benko’s home raided by police in fraud probe

They were investigating suspected embezzlement, fraud and fraudulent bankruptcy. Read more at straitstimes.com.

www.straitstimes.com

VIENNA - Austrian prosecutors raided the home of Signa Holding founder Rene Benko and his insolvent company’s headquarters as part of a fraud probe.

Anti-corruption investigators said they were investigating suspected embezzlement, fraud and fraudulent bankruptcy related to Signa and Benko, according to a statement on June 25. Abu Dhabi sovereign fund Mubadala Investment and other Middle Eastern investors are seeking more than €1 billion from Signa and Benko in arbitration.

 

[Ou812]

The Signa/Benko story continues.

Signa founder Rene Benko’s home raided by police in fraud probe

They were investigating suspected embezzlement, fraud and fraudulent bankruptcy. Read more at straitstimes.com.

www.straitstimes.com

Always makes me giggle seeing that Middle Eastern investors want their money, they’re known for not paying what they owe. I used to work with a Mubuadala owned company in the UAE, those guys were notorious for not paying invoices. It got to the point that the US defense company I worked for wouldn’t give them anything without getting paid first. When I left they still owed almost $40 million with no intentions of paying it.