The Wiggle and Chain Reaction Cycles websites are no more, with holding messages now present on both of them, following the appointment of liquidators.
The demise of the sites of one of the biggest online retailers is the conclusion of the process which saw WiggleCRC (Wiggle Chain Reaction Cycles) head into administration, and towards liquidation, with some parts of the business taken over.
On Wednesday morning, the regular home pages were replaced with statements. The Wiggle page says, “We’ll be back soon, a new Wiggle is coming. Let’s Go!” while the one on Chain Reaction Cycles says, “Check back soon for something awesome”.
On both sites, a statement to customers also reads: “All remaining orders will be fulfilled within 7-10 days. Please bear with us as we process these orders. Contact the customer services team at help@wiggle.com.”
Wiggle and its parent company were responsible for brands like dhb, Vitus, and LifeLine, which all could still have a future in this promised “new Wiggle”.
News emerged last month that the retailer had axed almost all staff – approximately 450 – with just “a few.. staying to help sell off the remaining stock.” One source told Cycling Weekly that the company had “finally hit rock bottom”.
Mike Ashley’s Frasers Group has purchased the brand and intellectual property for under £10m – which some inside the industry said “made sense” due to the retail behemoth’s previous business practices – but Wiggle’s predicament still remains largely unclear. However, it is now not possible to buy from Wiggle or its sister site.
The fall of Wiggle from industry behemoth to this point has come at a time when the wider cycling business is struggling, in the UK and around the world. Wiggle’s collapse is the most high profile example of a sector struggling
Industry stalwart Mike Rice, who is currently director of London bike shop chain Balfe’s Bikes, said last year that the “industry has had more turbulence than I’ve seen in the 30 plus years I’ve been involved in it.”
In 202,3 three major distributors collapsed; Moore Large, 2Pure and FLi, with key retailers Evans Cycles, Sigma Sports and Balfe’s bikes all posting losses in their latest company accounts.
Struggling businesses have almost unanimously pointed the finger at overstocks following the Covid pandemic, Brexit, and the cost of living crisis reducing spend on luxury and sporting goods.
