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surreybcrider
- Member since Jul 30, 2018
- Male / 54
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London , United Kingdom - 0 Followers
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surreybcrider edspratt's article
Mar 7, 2024 at 9:33
Mar 7, 2024
Wiggle CRC Reported to be Bought by Frasers Group for Under £10 Million
@naptime:
Two points:
One: All major parties - the Conservatives, Liberal Democrats and Labour - promised to abide by the referendum result (they all thought Remain would win).
Two: The major issue during the 2019 general election was Brexit. The party that promised "to get Brexit done" won an large majority of seats.
The UK has left the European Union. Get over it.
surreybcrider edspratt's article
Mar 4, 2024 at 12:32
Mar 4, 2024
Wiggle CRC Reported to be Bought by Frasers Group for Under £10 Million
@Korbi777: Signa Sports was/is a German company.
SIGNA Sports United (SSU) is a NYSE-listed specialist sports e-commerce company with headquarters in Berlin. It has businesses operating within bike, tennis, outdoor, and team sports. SSU has more than 80 online sites and partners with 500 shops serving over 6.5 million customers worldwide. It includes Tennis-Point, WiggleCRC, Fahrrad.de, Bikester, Probikeshop, Campz, Addnature, TennisPro and Outfitter.
Source: https://www.businesswire.com/news/home/20230221005693/en/SIGNA-Sports-United-Annual-Report-on-Form-20-F-for-Fiscal-Year-Ended-September-30-2022
Happy now?
surreybcrider edspratt's article
Mar 4, 2024 at 12:23
Mar 4, 2024
Wiggle CRC Reported to be Bought by Frasers Group for Under £10 Million
@vinay: As it Vitus. Vitus was a French bicycle tubing company that went bust in the early 2000s. It's best known for being a pioneer in aluminium tubing (Vitus 979 frames) and their steel tubing such as Super Vitus 971 and 980 was high regarded by frame builders.
surreybcrider edspratt's article
Mar 4, 2024 at 12:18
Mar 4, 2024
Wiggle CRC Reported to be Bought by Frasers Group for Under £10 Million
@iznotiz: Bike24 just released its 2023 financial numbers. The financial picture is not rosey.
https://bnnbreaking.com/finance-nav/bike24-holding-ag-faces-revenue-decline-and-adjusted-ebitda-margin-drop-in-fy-2023
surreybcrider edspratt's article
Mar 4, 2024 at 12:14
Mar 4, 2024
Wiggle CRC Reported to be Bought by Frasers Group for Under £10 Million
@browner: Wiggle CRC's downfall has nothing to do with Sports Direct. It has all to do with the failings of Signa Sports United.
Mike Ashley has only purchased the intellectual property rights of Wiggle CRC - just as Wiggle CRC did years ago when they acquired the rights to use the names Nukeproof (it use to be a US company) and Vitus (a French frame tubing company).
surreybcrider edspratt's article
Mar 4, 2024 at 12:09
Mar 4, 2024
Wiggle CRC Reported to be Bought by Frasers Group for Under £10 Million
They were hundreds of millions of GBP in debt. No company or private equity firm was going to rescue the company as it operated until recently and cover these massive loses. Their German parent company has also gone belly-up.
Mike Ashley's group has only purchased Wiggle CRC's intellectual property rights.
surreybcrider edspratt's article
Mar 4, 2024 at 12:04
Mar 4, 2024
Wiggle CRC Reported to be Bought by Frasers Group for Under £10 Million
@lkubica: Yet the 2016 vote to leave the the European Union didn't stop Signa Sports United, a German company, from acquiring Wiggle CRC in 2021 and that was even after the UK official departed from the EU.
And Wiggle CRC is not the only bicycle-related company to go bust in the past couple of years. VanMoof (Dutch) and Internetstores Group (German and also owned by Signa) have gone belly-up and even MAVIC (French) had to enter into receivership only a few years ago. This has all to do with poor management and people betting that the COVID-related bike boom would not end.
surreybcrider edspratt's article
Mar 4, 2024 at 12:00
Mar 4, 2024
Wiggle CRC Reported to be Bought by Frasers Group for Under £10 Million
@naptime: Using your logic, fewer that 1/3 of the country voted to remain in the EU.
And I did not vote to leave the EU.
surreybcrider edspratt's article
Mar 4, 2024 at 11:47
Mar 4, 2024
Wiggle CRC Reported to be Bought by Frasers Group for Under £10 Million
@allbiker: Wiggle CRC got f*cked by Signa Sports United, not Mike Ashley. The company went bankrupt under Signa resulting in the employees losing their jobs and creditors - large and small - getting shafted.
No one wanted to touch the £100s-of-millions in outstanding debt left by the Germans that would have saved the company. Ashley only purchased Wiggle CRC's intellectual rights.
