Haribo Among Companies Owed Money by Wiggle After it Entered Administration

Jan 5, 2024 at 4:59
by Ed Spratt  
photo

New documents released by the administrators in charge of Wiggle reveal large debts owed across the cycling industry and beyond including £20,000 to Haribo.

The latest update from the troubles at Wiggle details the company's financial situation from the time it entered administration in October last year. The 51-page statement of Administrator's proposal goes in-depth into the state of Wiggle as it entered administration with a complete list of creditors owed money.

Currently, the administrators in charge of the process have received 89 retention of title submissions and as of December 20, 85 agreements have been reached with creditors. Retention of title agreements ensures that if payments can't be made for goods received then the creditor/supplier can potentially recover the goods or when the administrators sell stock the proceeds can be shared amongst those owed money. While only 85 retention of tile agreements have been reached there are significantly more entities listed in the document. In a report by road.cc it mentions the list in the document may be outdated as it understands some of the debts have already been settled or are now lower than recorded.



Looking closer at the long list in the Administrator's proposal document there is a wide range of creditors from big distributors to sponsored riders, videographers and even Haribo. While Haribo is potentially owed a total of £20,275.20 there are some significant sums in the list with multiple entities waiting on payment of over £1 million. Some of the highest debts at the time the company entered administration in mid-October include:

- Axman Enterprise Co. £1,615,690.12
- Internetstores GmbH £1,302,143.50
- Ideal Bike Corporation £1,291,050.58
- Madison £1,095,272.90
- Extra UK £925,614.77



In brighter news, the future sale of the company continues to look positive as following an update on the sale process at the start of December the Administrator's proposal compiled on December 20 reveals several entities are looking into buying the business. The latest document states 24 Non-Disclosure Agreements were signed by potential purchasers wanting to look into the company with seven progressing to meeting the management team.

Funded offers were to be submitted by December 4, although no details are provided as the report states: "Given the sale process is ongoing, it is not appropriate to provide further details at this stage and all creditors will be updated in our first progress report."

Hopefully, with multiple parties interested in the company, we may have better news coming from Wiggle in the coming months.

Author Info:
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Member since Mar 16, 2017
3,050 articles

171 Comments
  • 138 2
 So this is why they stopped sending haribo in their orders
  • 34 0
 Haha yeah! Just gonna say same. Looks like they weren't paying for them either!
  • 4 0
 I always get a little bag even on the smallest order, my last order was Nov last year
  • 2 0
 @tomo12377: Ordered quite a few bits over the past few months. Nothing for me apart from some sweet deals.
  • 11 0
 I don't recall ever receiving any Haribo in my orders over the years. Guess they couldn't be sent to the US, or customs pulled them because of some US-centric silly reason.
  • 3 0
 @FaahkEet: Ya, none for me in Canada either, having ordered a number of items over the last 5 years or so.
  • 1 0
 @FaahkEet: Historically they have always put a pack of Haribo in with most orders. They have just gone bust though so perhaps not a business practice to be replicated.
  • 4 0
 @FaahkEet: Mine made it through when they didn't fall out the holes in their boxes that were just barely stronger than paper bags.
  • 7 0
 @tom666: Based in what they owed Haribo compared to the others, I don’t think gummi bears are the thing that tanked their business.
  • 2 0
 This thread and the replies makes me wonder what other treats we in North America are not getting. For example, I recently purchased an Inspired Hex street trials bike from Tartybikes in the UK. The bike is truly excellent, as was the purchase process, but I didn't get any tarts, only some stickers. If they sent tarts with UK purchases it would explain the name....
  • 1 0
 @noapathy: Never received any gummy bears and never had a box that didn't have holes in it either.
  • 7 0
 @The-Foiling-Optimist: I think your missus may want to have a word if some random tart shows up on your doorstep.
  • 1 0
 Nope, never had a single haribo despite using them since early 2000s, only really bought heavily discounted stuff so maybe us misers were noted and deprived of sweeties.
  • 3 1
 @The-Foiling-Optimist: You didn't get a visit from Katie Price?
  • 2 0
 @JonnyTheWeasel: Other than getting an absolutely outstanding street trails bike, which very soon after made me feel like I had almost fully regained skills and capabilities I thought I had lost 20 years ago, I only got stickers. And in answer to the point that @p0rtal00 raised, my wife recently bought two pairs of Cariuma sneakers recently because she saw Helen Mirren wearing them at the Cannes Film Festival. Well I've been a keen follower of Skateboard polemicist Gifted Hater on YouTube for some time now so when her Cariumas (the most dubious skateboard shoe brand in the world apparently) showed up on our doorstep I nearly had a seizure. Can someone with knowledge of northern England vernacular please weigh in on why Tartybikes is thusly named before anyone else here has a seizure?
  • 1 0
 @The-Foiling-Optimist: Adam the founder was nicknamed the Tart.
  • 2 0
 Never received candy from CRC though I was surprised to consistently receive them from Municycle.com. I don't recall they're related to Wiggle one way or another though. Does Haribo produce goods other than candy, which may be sold through a Wiggle store?
  • 2 0
 Orange might stop giving out oranges
  • 2 1
 @commental: that has slipped under everyone’s radar… wow
  • 1 1
 @JonnyTheWeasel: LOL. Underrated comment deserving far more than its current 3 upvotes. :-)
  • 1 0
 @commental: Ah, that sucks. That's easily the most iconic mountainbike brand in my book. Had so many champs on their bikes. Peaty, GOAT, Tracey Hannah, Ratboy, Brendog (people's Rampage champ, does count)...
  • 83 5
 This is Haribo news.
  • 20 0
 I can hardly bear it
  • 2 2
 my knees are wiggling like jelly
  • 1 0
 Someone had to draw the short strawbs
  • 66 2
 Kids and grownups love it so the happy world of unpaid debts
  • 2 0
 I can see the tv commercial now, set in a court room with suits spouting lines in a toddler voice
  • 52 5
 Don’t know if they can wiggle out if this one?
  • 59 2
 Letting them go under would be a haribo mistake.
  • 9 1
 Sweet pun!
  • 12 2
 Haribo should have been bearish on Wiggle.
  • 2 1
 This is what happens when the bike market is currently a (Haribo) bear market
  • 1 0
 Looks like the Axman is owned £1,615,690.12, off with your heads!
  • 5 2
 @Trail2000: Gummy me a break with the puns.
  • 2 0
 @Trail2000: fkin hell they still owe less than barnsley council which is surprising
  • 45 1
 Big deal I owe 8 bucks to my mom for a vase I broke in middle school
  • 10 2
 Me too.
  • 41 1
 @Jaffa1: How did you broke his mom's vase?
  • 5 2
 @nozes: maybe he shoved it a little too hard and moved to the UK out of shame?
  • 10 0
 @nozes: That is the title of a porn movie.
  • 4 4
 @opignonlibre: is it any good? Asking for a friend...
  • 2 1
 @opignonlibre: maybe why she never asked for the money again
  • 4 0
 Funded offers??? I was alucky boy this year and got 90 quid in the christmas gifts hopefully if i throw in the 50 quid amazon gift card the administrators will accept my offer to buy giggle
  • 2 2
 @Tambo: It's a great one, no vases were harmed in the making of the video.
  • 5 0
 Shouldn’t have been playing ball in the house.
  • 26 0
 My gummies don't wiggle wiggle, they fold....
  • 2 0
 So bad I upvoted it!
  • 3 0
 No slack in this comment. Luckily the seats go back
  • 19 0
 Some dude called Sam Hill is owed £35K…
  • 1 0
 Ya, I was wondering how many riders are affected. Losing money owed to you usually hurts.
  • 14 0
 He's not alone (sadly), fellow racers Kelan Grant (3.5k), Joe Smith (3.5k), Dan Booker (9k), Elliot Heap (6.5k), Corey Watson (1.5k) and Sam's mechanic Jacy (4.5k) are all owed too, as well as media guys Alex Rankin (2k), Laurence Grossman-Emms (10k), and Tom Caldwell (9.5k)
  • 7 0
 Genuinely cannot believe PB did not mention this.
  • 4 0
 @Maxwrbike: haribo obviously more important than one of the best mtbers of all time
  • 2 0
 @samdaman1: that's a hell of a list. Those numbers are really significant to a lot of those people, I'd guess.
  • 1 0
 @Maxwrbike: yeah i agree bigtime.
  • 2 0
 Sam Hill to Haribo Confirmed!
  • 18 0
 You do not MESS with the MASTERS of the GUMMI BEAR!!!
  • 13 9
 Albanese is the master of gummi bears. Haribo is like the 6th best bear.
  • 13 5
 @toast2266: you are wrong, just saying.
  • 6 7
 @betobi: German companies are good at engineering and precision. American companies are good at making people fat with delicious sugar. I want my gummi bears to be delicious, not precisely engineered. Albanese for the win!
  • 3 4
 @toast2266: Albanese are far superior.
  • 2 0
 @TwoNGlenn: you should broach that subject with Aussies and see how it goes down.
  • 1 0
 @toast2266: Hear, hear!! I pass the Albanese factory outlet like 3 times a year. Not hard to find motivation to ride when you aquire 5-10lbs of bears per visit and you know there are consequences to said bears.
  • 3 0
 @toast2266: over here that muppet just tries to run the country
  • 5 0
 @constantly-broken: the Australian Albanese seems significantly less delicious.
  • 3 0
 @p0rtal00: my gummy experience is limited, I’ll admit. But here in the states, I find the Albanese to be far more supple than the Haribo. I’m basing my preference on texture alone.
  • 1 0
 @toast2266: You have to try the albanese with the all natural flavor, called the ultimate or something like that. They are amazing and so much tastier than the reg albanese imo
  • 1 0
 @toast2266: I can see nothing wrong with a carefully developed Gummibear that has low tolerances, is optimized in size, weight, consistency and color to meet the high expectations of customers all around the world. Taste might be different and up to debate but no one can argue against the value of the high level of engendering in these sweets. And they use metric sizing, too.
  • 13 1
 Why do Wiggle owe 1.3 million to internetstores GmbH? They are another Signa United business. I get the other 4 in the list as they bike manufacturers or parts distributors, but another company in your own group is odd.
  • 22 0
 Business, you can move it across companies and more importantly tax areas.
  • 3 3
 Very commonly done, could be for tax implications or any number of other reasons.
  • 7 0
 Companies under the same ownership group often do business with each other. Internetstores was probably providing some kind of services to Wiggle. Even though they are under the same parent company they are different entities, and the transactions between the two are accounted for as such. The Internetstores and wiggle bankruptcy proceedings are separate and would look at each companies financial situation on its own.
  • 11 0
 @toad321: Exactly, interest payable on intra-group loans is tax deductible, profit distributions are not. One of the reasons why subsidiaries are usually "capitalized" with more debt than "real equity". Whatever, I'm here for the puns.
  • 13 0
 Welcome to the weird and wonderfully absurd world of financial law.

In practical terms, that "loan" never existed. Those 1.3 million are most likely revenue, disguised as an intra-group loan agreement, which can be tax deductible. In very simply terms, what's happening here is different companies of the same group shuffling around their money in an effort to disguise their profits and avoid paying taxes.
  • 1 0
 Internetstores is the owner of Probikeshop and Bikester that are also closing
  • 11 0
 Would be a real shame to lose Vitus as a brand. Fantastic bikes at a great price point. Would be sad to lose more value options in the market as it will just perpetuate unreasonably high prices
  • 1 0
 Yeah. I wish the process would finalize so there would be some clarity moving forward. Bought an XC bime for my son earlier this year in the US and am curious as to what happens to the warranty or spare parts availability. I guess I need to contact the open mold company to get some spare derailleur hangers.
  • 1 0
 it wont die, it's well established and I'd imagine profitable as every other person you see has one. Someone else will just buy it up.
  • 11 2
 Brexit should have had a big impact in their business. I used to buy from several stores in the UK, wiggle included, and since brexit and the introduction of custom fees I stopped. I bet a lot of customers from the EU have done the same.
  • 2 1
 True, the UK bike stores were exporting far and wide - shipping goods to Europe, USA, Australia and Japan even However, also because of Brexit, UK customers stopped buying from bike24 and bike discount and other sites, so they lost their European customers, but probably won some British ones back. Still a net loss I'm sure
  • 9 0
 Halfords/Tredz will end up with the business.

Nukeproof will be a separate entity owned by someone else (don’t know who yet).
  • 5 0
 This would be the best outcome for Nukeproof/Vitus/Ragley. The other potential buyers would just crush these brands.
  • 7 0
 Someone will buy Nukeproof. Per NP sales rep, their profits exceeded their expectations in 2023. They simply had unfortunate owners…
  • 3 3
 But someone can only buy NP if Wiggle / CRC are sold to a new buyer and they decide to separate the brand and sell separately or if the company goes into complete liquidation and the assets are effectively sold off by auction or some other means and NP is again split from CRC as the owning party.

If that happens, whoever buys NP would be essentially buying designs, branding and IP as the overseas manufacturer that has not been paid will hold the carbon moulds etc and there wont be any real stock left as its all been sold off to CRC - that or the new owner would need to buy NP and then clear millions of pounds of debt to receive essentially nothing but a continued relationship with old suppliers.
  • 3 6
 @justanotherusername: That is not how business works - new owners do not necessarily pick up the old owners debts.
  • 4 4
 @sargey2003: I completely understand that, you are missing my point though.

If nobody pays the nearly £3mil owed to the current manufacturers of Nukeproof's bikes, then that manufacturing company is not likely write the sum off and continue business with any new owner, is it?

So my point is, unless this is paid either now in administration or by the new owners the carbon moulds and production methods lie with the unpaid Taiwanese manufacturer.
  • 1 0
 Haha no they didn't...
  • 8 5
 Be interesting to see what will happen to the £3million odd owed to the two Taiwanese suppliers that were making the Nukeproof and Vitus bikes.

They have sold off most of the stock so any new buyer will have to bring deep pockets to pay for historic debts that they will have nothing to show for.

Don't pay up and they wont supply you again and you will have to purchase new carbon mould tooling / get production going with new suppliers which will take a year at least.

Doesn't look good for NP and Vitus in my eyes in the short term at least.
  • 3 0
 More likely creditors will make their claims and get what they can, then the company will be sold as whatever is left. That or the sale price would reflect the debt on the company's balance sheet.
  • 1 3
 @Lanebobane: It seems like most of the big debts are associated with Nukeproof / Vitus - hard to believe a buyer would take those on as its essentially paying for goodwill / brand name and IP as the stock you are paying for has been sold a long time ago.

If it goes south and overseas creditors are likely to get zero - any money left will go to preferential creditors such as the bank etc - not that there will be any stock left to liquidate in order to get any cash anyway as most of it has been sold at cost price to cover immediate operating costs.
  • 2 0
 I reckon the IP on the designs for the bikes and associated moulds would sit with company in administration. To not own that would be suicide as you'd be beholden to your frame manufacturer. If that stacks up then Nukeproof/Vitus would own enough IP for another brand with a manufacturing capability/supply chain to pick it up and run with it?
  • 3 3
 @villageidiot16: The IP and design would definitely remain with NP/CRC.

You think the moulds / any other associated articles of production currently sitting in the Taiwanese manufacturers factory would be released by them back to a new owner if they have an unpaid debt of over a £1millon though? - That is absolutely not going to happen.

Either the debt is paid or hundreds of thousands of pounds of moulds are toast.
  • 9 0
 @justanotherusername: These figures are from before Christmas and I think they sound way worse than they are. If you do £20m a year with a supplier and you owe them £1m you owe them for the last 2 weeks. Not that severe. The administrator's job is to make sure the suppliers get paid. The recent sales will have generated a lot of cash to pay the suppliers and hopefully nobody is owed a significant sum when it finally closes and/or the company changes hands.
  • 2 3
 @tom666: Yea you might be right - though I imagine the nearly £3mil to the overseas suppliers will be way, way more than a few weeks worth of stock, that would amount to getting on for £10mil of turnover.

The administrators will pay in a preferential manner too, it would be interesting to see who has been paid since these documents and how much cash has been burned up paying wages etc, they also need to put money aside to cover tax and vat liabilities and pay their own huge bills.
  • 5 0
 @justanotherusername: Whoever owns the moulds should (if they are sane) make a business decision on what to do with them, if someone buys the Nukeproof name and offers you $1million to make a bunch of new bikes it would be stupid to crush the moulds because the former owner owed you money.

That's called cutting off your nose to spite your face.
  • 4 1
 @justanotherusername: That's not quite right in this scenario. Pretty much all the revenue (minus any VAT, minus the cost of sales (cost of filling the order, shipping etc)) can be plowed straight into paying the suppliers. Administration is different to normal trading periods.
  • 2 5
 @sargey2003: If you have an unpaid debt of £1mil and and someone offers you £1mil to make new frames you would be making frames for free, you would need to clear the debt first.

@tom666: There is an order of preference in which debts are paid though in administration - it will be used to pay suppliers and debtors but unsecured creditors are last in line - I have no idea how the administrators tier the unsecured creditors and how much they pay them and when.
  • 3 1
 @justanotherusername: I think you need to separate the two transactions here. The company is going to change hands. So the manufacturer is essentially dealing with a new customer.

The $1M of unpaid debt is what it is. They will either collect some of that through the bankruptcy process or not.

Taking a new order from the new owner is separate transaction that they will have to evaluate independent of that old debt.
  • 2 9
flag justanotherusername (Jan 5, 2024 at 8:36) (Below Threshold)
 @sino428: I think you need to look up 'administration' in the UK - CRC / Wiggle isn't currently going 'bankrupt' - its in administration seeking a buyer so it is a going concern and is being sold as such.

I completely understand that taking an order from a 'new' owner would be a separate transaction but good luck convincing the manufacturer to wipe a million debt and continue trade as before, more likely is a repayment agreement of some kind would have to take place.
  • 4 0
 @justanotherusername: Try to be a bit more humble and give others the benefit of the doubt dude - you've been dead wrong a couple of times in the thread above and you're telling other people "I think you need to look up X" like they're some kind of idiot. You can see from the downvotes you're being unnecessarily rude.

I think CRC Wiggle is most likely to fully close in its current form. I think that Halfords (Tredz), the owner of JD sports (who owns Leisure Lakes, Wheelbase etc) or Mike Ashley (Frasers Group/Evans) are the most likely buyers and I don't think any of those buyers would want the staff and the warehouse etc. All of them would just buy the domains and IP and pull Wiggle/CRC into their own businesses. Whether or not they will buy Vitus/Nukeproof or if they will go somewhere else is another matter. Somebody who buys those brands might be interested in the design/engineering staff also, but not necessarily. I think the most likely thing is that it will close fully in it's current form.
  • 1 6
flag justanotherusername (Jan 6, 2024 at 5:04) (Below Threshold)
 @tom666: I apologise for being rude Thomas, I will reflect on my behaviour and how the 4-5 'downvotes' on PB should remind me to be humble in life and be more thoughtful when questioning people on PB when they are wrong. Thanks Thomas. xxx
  • 5 1
 @justanotherusername: maybe you should look up the definition of bankrupt, which means a business is insolvent or unable to pay its debts.

So yes regardless of whether it’s called ‘administration’ in the UK vs ‘chapter 11 bankruptcy’ in the US it’s essentially the same thing. CRC and Wiggle are in fact going ‘bankrupt’.
  • 3 4
 @sino428: Bankruptcy and LTD Companies in the UK:

"A limited company cannot “go bankrupt”; instead, it enters liquidation. The most common insolvent liquidation is a Creditors Voluntary Liquidation (CVL), initiated by directors and members or shareholders. At the end of the process, the company ceases trading, is wound up and struck off the register at Companies House"

CRC is not Bankrupt nor is it in Liquidation - it is in Administration as it attempts to prevent this from happening.

Just because the word means something in the USA, doesn't mean it means the same thing in the country that invented the language you have butchered
  • 3 1
 @justanotherusername: You're wrong unfortunately pal. They are insolvent, the company has lost vast amounts several years in a row and administrators are liquidating the stock to pay the debts owed. It is extremely unlikely to be sold as a going concern, it is likely to be sold as IP or not at all.
  • 2 8
flag justanotherusername (Jan 6, 2024 at 8:10) (Below Threshold)
 @tom666: Thanks 'pal' - But CRC was servicing its debts (admittedly via external funding but this is irrelevant) it wasn't 'insolvent' until the funding was pulled by the parent company and was voluntarily put into administration.

The debts owed all relates to stock purchased or services used not yet paid due to credit terms or future payment agreements, the administrators aren't paying debts that CRC couldn't previously service, they are covering their usual business costs.

Unfortunately pal - you don't really understand the basics.
  • 2 0
 @justanotherusername: The only people likely to be paid in full are HMRC and the Administrators. Trade debts will on the most part be paid a small percentage of the debt as CRC/Wiggle don’t have the funds required.

One small supplier said he is getting 10p in the £ on the money owed to him.
  • 5 0
 @justanotherusername: I assure you, it is you who doesn't understand.
  • 2 0
 @justanotherusername: How can you say it’s irrelevant when the company could only pay its debts if it was bringing in outside funding?

That’s completely relevant. Thats the most relevant thing in this whole conversation. It means the company itself is insolvent, which is why it went into administration as soon as the external funds were pulled.

And what is debt owed relating to stock purchases? Debt and equity are completely different things. When investors buy stock it’s not a loan, they buy ownership. Stockholders aren’t owed anything.
  • 1 6
flag justanotherusername (Jan 6, 2024 at 12:20) (Below Threshold)
 @sino428: do you have a single understanding of British Ltd company structure or any company structure? - no I would say absolutely zero.

Companies often only survive using external funding, often in a group holding some companies are non profit making while some make huge profits funding the others.

Here’s one for you to think about - for a few years my personal Ltd company made an accounting loss but at the same time paid corporation tax, as an opposite for a few years we made an accounting profit but paid no tax.

If you don’t have any experience or it’s USA specific why argue?
  • 1 4
 @davechopoptions: I agree - only Tommyboi seems to think otherwise.
  • 3 0
 @justanotherusername: “ Companies often only survive using external funding”

No they don’t. That only happens in the early stages before a company may become profitable, or as a temporary measure. If for an extended period of time a company loses money and can’t pay its bills it goes bankrupt, just like wiggle/crc right now. If a certain subsidiary or business unit is not making money the parent company isn’t going to just keep funding it indefinitely.

And I’m not sure what book vs tax income has to do with this situation. Those types of differences can happen to all companies, profitable or not. They have nothing to do with a companies ability to pay it debts.
  • 1 3
 @sino428: Not had much experience with group undertakings and the reasons why you would continue to operate a company not in profit have you?

Think about what you have written - you just said running as a taxable loss has no nothing to do with paying debts but at the same time say a company making a loss goes bankrupt.

What on earth does ‘book v tax income’ mean - American bullshit doesn’t apply worldwide my man, you haven’t policed everything yet.
  • 5 0
 @justanotherusername: you don’t even know what book vs tax means. How can I take even take this conversation seriously?

CRC can’t pay its suppliers. They can’t pay for the goods they are trying to sell. The business is failing. That’s why the parent company pulled the plug.
  • 2 0
 @justanotherusername: You do? Weird as I agree with the others.
  • 1 6
flag justanotherusername (Jan 7, 2024 at 2:48) (Below Threshold)
 @davechopoptions: then you have consumed too many turds.
  • 5 0
 @justanotherusername: What an odd and unpleasant thing to say.
  • 7 0
 We'll just have to order direct from the big H in future...
  • 6 0
 My four year old is a vegetarian entirely of his own doing. He just learned what gelatin is and boy was he pissed.
  • 4 2
 Haribo do a vegetarian range so he fear not.
  • 6 0
 When pinkbike comments become reality
  • 5 1
 Yo pinkbike! Why not report on the riders that owed money rather than the big corpos that don’t rely on that money for their living?! The info is pretty easy to find….
  • 1 0
 Yes. For 20k I think big gummi is gonna be just fine.
  • 4 0
 I can’t believe no one‘s posted this yet


www.amazon.com/review/RZFIYJTPVUZ94
  • 6 2
 Whoever gets it is getting a sweet deal
  • 5 0
 Someone check on Levy
  • 4 0
 Mike Levy
  • 3 0
 This gives a whole new meaning to free haribo with every order… it was indeed free for Wiggle…
  • 2 0
 I hope they have some wiggle room in their finances or someone’s going to haribo it.
  • 3 0
 Sports Direct incoming
  • 5 0
 Please no!
  • 2 0
 Gummy, gummy, gummy, gummy......
  • 1 0
 Just take a look at that balance sheet if you thought you were having a bad day....
  • 1 0
 Continental owes Wiggle GBP 62.38. Not even they can get Kryptotals in for sale.
  • 1 0
 The name "Haribo" is a syllabic abbreviation ...
Revenue: €1.7–2.0 billion
  • 1 0
 Haribo gold bears?!? The red ones are more gooder to me because they're really squishy.
  • 1 0
 trying to picture 20k worth of Haribo 10p a 16g bag, thats over 2000 bags , which is about 32k.5 kg
  • 1 0
 So an estimated 202,752 packs of Haribo not been paid for. Not Tangfastic news!
  • 1 0
 Sad news about Crc, a N.Irish success story. But a obvious casualty of Brexit that UK politicians don't want to discuss.
  • 1 0
 R2 Bike still throws in a pack of Haribo!
  • 3 1
 Sh*tmix
  • 1 0
 You mean, like the gummy bears? I love the red ones...
  • 1 0
 Somewhat bitter-sweet news.
  • 1 0
 I think this is tangfastic news for lbs and smaller companies.
  • 7 9
 Thanks to the US Fed money got real expensive last year!

Maybe next time the can address the real problem causing inflation (price gouging) instead of the fake problem (low interest rates).
  • 4 1
 US interest rates are near this historic average ¯\_(ツ)_/¯
  • 1 2
 @pmhobson: but far FAR higher than US rates were in 2021. People do their business math based on low interests rates, then those rates go way put compared to where they were, and it causes large unexpected losses.
  • 4 0
 These things are not mutually exclusive. Fed policy incentivized price gouging. The US money supply grew by over 40% during the pandemic. Companies have an obligation to their shareholders to price their products to what the market can bear.

When the money supply grew due to fed money printing, companies were able to charge more for their products as the average consumer had more cash to spend. Now that demand for bikes has fallen, savings rates are down, and interest rates are up, bike companies are discounting their bikes and the market is returning to equilibrium.

I understand the anger with inflation. I used the word “average” when describing the consumer and millions of people are below average. Anyone below average felt/is feeling a lot of economic pain.
  • 3 0
 @Froday: No doubt. But in the exact same way that it was bad business to assume that the COVID bike boom would last forever, it was bad business to think that interest rates wouldn’t return to normal in the near future.
  • 2 0
 Life changing news
  • 1 0
 £20,000 worth of Haribo seems like a pretty sweet deal =D
  • 1 0
 This better not cause a gummy bear supply chain or price inflation issue.
  • 1 0
 I still have some I didn't eat yet. Are they going to get repossesed?
  • 1 0
 Wiggle - Taken out by a Gummy Bear
  • 1 0
 Wiggle has a bad gummy bear habit.
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 so me recieving haribo from CRC contributed to CRC's demise??
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 What a juicy story.
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 Bearish on Wiggle.
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 They can't Wiggle out of this!
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 This is massive
  • 1 1
 How To Run A Company Into The Ground 101
  • 1 0
 take me, Haribo
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