oldcorollas
Levin the moment
easiest way to get $100K wealth is to begin with $300K and start a bike company?Give me $300K and I can sort something out.
easiest way to get $100K wealth is to begin with $300K and start a bike company?Give me $300K and I can sort something out.
In a few years time it will just be single syllables: Duuude!.... Siiick!..... or Braaaah!Get rid of the lame-arse surfer-bro commentator and you might have a chance of more people watching it. Currently it's like:
Slopestyle riders pull an insane combo trick:
"You know what brah, that was like the SICKEST thing we've EVER seen!"
Footage of rider napping in the pits two hours before a race run:
"You know what brah, that was like the SICKEST thing we've EVER seen!"
I really don’t understand ‘chapter 11’ bankruptcy. If they filed for that 3 years ago, how were they trading through covid etc. Also, I went onto their website which still presents a trading business and while there is not much that’s actually in stock, I was able to find a frame in large and put it in my cart. So they seem to still be trading now????Just reading that Eminent Cycles has filed for bankruptcy.
Eminent Cycles auctions remaining inventory three years after Chapter 11
SAN MARCOS, Calif. (BRAIN) — Almost three years after the brand filed for Chapter 11 bankruptcy, Eminent Cycles' remaining frames, bikes and parts are being auctioned this month. Eminent's initial Chapter 11 filing showed debts of $1.4 million and assets of $139,000. At the time the company said...www.bicycleretailer.com
Thought this was a pretty interesting behind the scenes.
"In a December 2023 filing with the Bankruptcy Court for Southern California, Eminent Cycles owner Jeff Soncrant said that since the bankruptcy initial filing he has invested more than $300,000 in the company and worked without salary for two and a half years. He said Eminent sales grew rapidly during the COVID-19 pandemic but then the company was unable to obtain additional inventory for several months due to supply chain challenges. Later, Eminent was challenged by tariffs on China-made frames and high shipping costs that resulted in higher pricing. He said factories also prioritized orders from larger brands during this period.
"However, because there were back orders from customers, it provided Eminent confidence that business growth would increase," he said of the 2022 scenario.
When inventory began arriving in June 2022, more than half of customers canceled their orders, he said in the filing. By early 2023, he said, "there was no demand for bikes."
Chapter 11 is sorta like going to one of those debt consolidation mobs... fake bakruptcy?I really don’t understand ‘chapter 11’ bankruptcy. If they filed for that 3 years ago, how were they trading through covid etc. Also, I went onto their website which still presents a trading business and while there is not much that’s actually in stock, I was able to find a frame in large and put it in my cart. So they seem to still be trading now????
Fucking nailed the analogyI think chapter 11 is for when you believe it can be saved by a smart restructuring. Like when the car's got the rear end out but can still be caught vs chapter 7 where you're wrapped around a pole.
Maintenance hey?
Massive cracks...Maintenance hey?
Is that like a full service or a warrantee replacement?
Wonder if the website ever does come back, will they have whittled down their 33 bikes to the 5 or 6 most popular, maybe Crush, Clockwork, Switch etc..Massive cracks...
One would hope so... Speaking of hope, wonder if im game enough to ask for a tracking number for my hubsWonder if the website ever does come back, will they have whittled down their 33 bikes to the 5 or 6 most popular, maybe Crush, Clockwork, Switch etc..
Coming from where ?One would hope so... Speaking of hope, wonder if im game enough to ask for a tracking number for my hubs
Orange Bikes HQ in pommyland. They did tell me they were shipped - fingers crossedComing from where ?
Maybe security will answer the phoneOrange Bikes HQ in pommyland. They did tell me they were shipped - fingers crossed
If my math is correct, which it is likely not, that's below 2% net margin.Scotts Sports owner Youngone loans company $176 million
SEOUL, Korea (BRAIN) — South Korean apparel brand Youngone Corp., which acquired a majority share in Scott Sports in 2015, has loaned its subsidiary 150 million Swiss francs ($176 million).www.bicycleretailer.com
"The filing also disclosed that Scott Sports made a profit of $35.8 million in 2022 on sales of $628 million and profit of $23.2 million in 2021 on sales of $695 million."
Considering the sales they did it's not much of a return.
is not really that dire though.Scotts Sports owner Youngone loans company $176 million
SEOUL, Korea (BRAIN) — South Korean apparel brand Youngone Corp., which acquired a majority share in Scott Sports in 2015, has loaned its subsidiary 150 million Swiss francs ($176 million).www.bicycleretailer.com
"The filing also disclosed that Scott Sports made a profit of $35.8 million in 2022 on sales of $628 million and profit of $23.2 million in 2021 on sales of $695 million."
Considering the sales they did it's not much of a return.
Most of those liabilities are future maintenance issues with headset routing.is not really that dire though.
2022 full accounts if you are into that sort of thing.. (and I may not be reading it correctly but...)
123 mil in cash
total assets ~614mil
total liabilities ~458mil
gross profit ~196mil (from ~954 mil sales)
final profit ~46mil
and previous year filings (they are swiss Co, but file in the UK)
SCOTT SPORTS SA filing history - Find and update company information - GOV.UK
SCOTT SPORTS SA - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activityfind-and-update.company-information.service.gov.uk
maybe just refinancing their long term liabilities, or expanding? they have a swanky HQ
If my math is correct, which it is likely not, that's below 2% net margin.