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

LPG

LPG

likes thicc birds
Ouch, the owners bought the company in 2021 in mid covid. Boom in cycling, lack of stock and expensive shipping. Now the boom is over and they're probably realising that things aren't flying out the door at high prices anymore.
 
Jabubu

Jabubu

let you google that for me
And there it is, fucking Brexit. A great of example of what happens when you misinform the public and then get them to vote on a policy that will define an economy for decades to come.


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ForkinGreat

ForkinGreat

Knows his Brassica oleracea
Jabubu said:
And there it is, fucking Brexit. A great of example of what happens when you misinform the public and then get them to vote on a policy that will define an economy for decades to come.


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Yes, Brexit is all kinds of arse, but how does that relate to wiggle/CRC being bought by cunts and then CS going down the shitter, shipping getting exxy, and just generally being a bit poxy?
And Yes, just to reiterate, I'm with you on Brexit being some sort of fucked-up John Bull - Rule Brittania wank fantasy that is no longer relevant, and means bugger all when the rest of Europe is leaving them in the dust to wave their little flags at themselves.
 
Jabubu

Jabubu

let you google that for me
ForkinGreat said:
Yes, Brexit is all kinds of arse, but how does that relate to wiggle/CRC being bought by cunts and then CS going down the shitter, shipping getting exxy, and just generally being a bit poxy?
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Because they specifically cite Brexit as a major reason for their woes - especially as @ozzybmx said, they relocated all operations to England.
 
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Jabubu

Jabubu

let you google that for me
ozzybmx said:
Nonsense.

Nothing to do with it. Covid, recession, supply, high prices of components and doing business, geoblock, shit CS and competition with other online shops.

Everywhere is feeling the pinch. Wiggle-CRC has been going down gradually for 5+ years.
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I'm not solely blaming Brexit, far from it but they specifically call it out and I can only assume they include all their workings out when they're explaining that to investors and not just giving a 'my dog ate my homework' excuse.
 
ozzybmx

ozzybmx

taking a shit with my boobs out
Jabubu said:
Because they specifically cite Brexit as a reason for their woes - especially as @ozzybmx said, they relocated all operations to England.
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Everyone needs somebody to blame. Plenty of companies thriving after Brexit.

The mix of Corona, Ukraine war and all the other things that they have got shit at is why they are in trouble.

Brexit has made a -5% impact on the UK as a whole but I don't even know how much of that 5% would even affect an online company.

Wiggle-CRC blaming Brexit on their 30% fall in overseas purchases... Bullshit, they are down because their prices are shit, stock is shit and the competition is better that them.
A loss of $200,000,000au to date in 2023, goodbye, only the strong survive.
 
pink poodle

pink poodle

気が狂っている男
Yet they also own a gean retailer...easy enough to use that site to circumvent their continental woes.

CRC has been shit house since wiggle took over. It was almost an immediate negative impact, as though they were winding crc down to be just one... almighty wiggle. Throw stock shortages a shit website and a cost of living crisis on the tyre fire. It is disappointing as the size and influence they have had on the bike world has mostly been positive. I have churned unfathomable (well you know...to normal people) dollars through them over the years in exchange for countless hours of fun and excitement.
 
Calvin27

Calvin27

Eats Squid
caad9 said:
It's quite staggering that the entire bicycle industry thought the Covid boom would go on forever.
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This mob rekons their sales are lower than pre-covid - which kind of suggests they are just shit. Even brexit is no excuse, I'm gonna guess if you just looked at aussie sales (unaffected by brexit) they would be tanking too). Gonna say again that web build was a complete fail. These days when you casually ask where someone got something it's mostly bikebug/pushys. Rewind 10 years ago, I remember having an account with over $10k purchases in a year being the nominated platinium wiggle member in the office lol.
 
Jabubu

Jabubu

let you google that for me
It's notable that things like Horizon wheel bundles and Hope Fortus builds are not being replenished.

If they do go down, I hope CRC is bought out (along with Nukeproof) and they move back to NI.
 
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