Mavic, the France-based wheel brand that has been in receivership since 2 May, is to be sold to a group controlled by an entrepreneur behind one of the country’s biggest DIY chains.
The commercial court in Grenoble announced on Tuesday that the Bourrelier Group had been chosen as the preferred bidder out of 14 offers received for the troubled cycling business, reports the Dauphiné Libéré.
Mavic employs some 250 people, including 200 in France, with the new owners safeguarding 105 of the latter.
The joint managing directors of the Bourrelier Group are Jean-Michel Bourrelier and his son, Yoann Bourrelier, a former mountain bike racer who in 2007 founded the Ecox chain which sells e-bikes from 13 stores throughout France.
The group was previously known as Bricorama, which Bourrelier père built into one of France’s leading DIY chains before selling it at the end of 2017.
Currently, the Bourrelier Group runs 72 DIY stores in Belgium and the Netherlands under the Gamma and Karwel fascias, with annual turnover of €222.9 million last year.
Unsuccessful bids for the Annecy-based company included one from François Guers, owner of the Time brand and another involving five-time Tour de France winner Bernard Hinault.
In December, months after it was sold by former parent Amer Sports to a US-based private equity firm, Mavic entered a process called conciliation which, under French insolvency law, seeks to arrive at an agreement between a business in difficulties and its creditors.
In February this year French business turnaround firm BySaving took over management of the company, which in May entered a process called redressement judiciaire, under which a court appoints a receiver who, working with management, seeks to maximise returns to creditors.
Total lack of situational awareness from the buildinga nd the railings there...
Accroding to the linked article, and I'm not sure if it is the way they reported it in the newspaper or the court, but they mentioned althought it...
Yep, good job they didn't decide to pay back all the additional VAT for people who bought from abroad but whose bikes weren't ready until Jan for...
Well done. Posting the same dumb thing over and over within seconds, reinforcing the stereotype of pro-Brexit voters as being both stupid and...
It was him...? I didn't realise he was still alive.
Let's see a picture of you, then. I'm not expecting much from someone called Mungecrundle.
It's slid on ok as you can see. I did find the part number of the edco lock ring that was supplier with the previous gen, which another group has...
That car came… out of the blue. Thank you, I'll get my coat
True youll also have something different
Sounds like castelli's x2 pad also would saddle choice have a bigger effect, cut out / open design, though endura don't do saddles