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Retail

Job cuts and restructuring to take place at Raleigh Bikes as it deals with a “challenging market”

The bike manufacturer is also shutting its Parts and Accessories division and will be outsourcing warehousing and logistics to third-party contractors

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Halfords to honour Wiggle Chain Reaction warranties on parts and accessories

"As the leading cycling retailers, we have a responsibility to support the whole market"

6

Rapha announces loss of £12 million, citing cost of living and supply chain concerns

The premium cycling clothing company has now posted a loss for the sixth year running, however an independent auditor identified no uncertainties which could cast a doubt on Rapha's future

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Wiggle Chain Reaction administrators announce 105 job cuts amid interest from potential buyers

The joint administrators, who are currently preparing the business for sale, said the “decision was not taken lightly”, in the same week Wiggle’s parent company filed for insolvency in Germany

2

More bad news for Wiggle Chain Reaction as parent company files for insolvency

The latest blow for the cycling retail giant will not come as a surprise, days after Wiggle Chain Reaction entered administration and was put up for sale by administrators

2

Continued weak cycling demand blamed as Mips sales fall by a third

CEO Max Strandwitz insisted the helmet technology company can "remain confident about our long-term growth opportunities in the bike sub-category once the market starts to normalise"

4

Frasers Group reportedly mulling bid for Wiggle after online retailer enters administration

Mike Ashley’s business already has presence in cycling market through Evans Cycles and ProBikeKit

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Wiggle Chain Reaction put up for sale by administrators, as expert warns collapse is “just the start of big changes” across bike industry

The retail giant, whose parent company found out last week that it can no longer rely on €150 million of previously committed funding, has said all orders “will continue to be delivered as usual”

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Children’s bike manufacturer Islabikes to cease production after 18 years

"It has been a turbulent and difficult time for the cycle industry as a whole and neither Tim nor Isla wish to continue"

16

Bike industry turmoil: Shimano says global cycling market remains “weak” as segment sales fall by a quarter – and worse to come?

Japanese components giant hails “favourable” response to new groupsets – but sales in key European market are on the slide and forecast to halve in the second half of 2023

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Latest blow for Wiggle Chain Reaction as parent company closes US offices and prepares insolvency filings

Signa Sports United, the owner of Wiggle Chain Reaction Cycles and several other cycling retailers, last week learnt that it could no longer rely on €150 million of committed funding from its parent company

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“I hope anyone who bought recently used a credit card”: Black Friday begins at Wiggle Chain Reaction Cycles… but is it safe to spend with the troubled retail giant?

As rumours spread the beleaguered retail giant has stopped paying suppliers, we give our tips on how not to lose your hard-earned cash should Black Friday turn blacker

10

Wiggle reportedly heading towards administration due to parent company funding woes

Meanwhile, Mike Ashley’s Frasers Group identified as prime candidate to swoop for e-commerce business

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Wiggle Chain Reaction owner woes continue following “unjustified” withdrawal of €150m funding commitment by parent company

The latest financial blow, which increases the uncertainty surrounding Signa Sports United’s future, comes a week after the e-commerce giant delisted its shares amid “severe liquidity and profitability challenges”

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Wiggle and Chain Reaction owner facing “severe liquidity and profitability challenges” as it announces delisting of shares

The German e-commerce giant, also behind Bikester and Probikeshop, said that weaker consumer demand in the cycling sector has continued to impact its finances

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New Cycle to Work ‘Flexi Voucher’ founder claims to offer “better experience for cyclists”… but existing provider says it “mimics” its own scheme and is not the “real thing”

The new scheme allows customers to spread their purchases over a year at different shops, and accused “legacy” providers such as Cyclescheme and Halfords of “profiting whilst damaging independent retailers”

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Trek reveals plan to accept used bikes and sell second-hand as part of sustainability drive, even if it “means making and selling less”

Trek's Sustainability Report outlines the brand's commitment to a more sustainable future, calls for "scepticism" about companies' net-zero pledges, and commits to ending use of carbon offsets to calculate its carbon footprint

7

Cycling sales down at Halfords as retailer shifts focus to car repairs

The retailer said its cycling sales had been "adversely affected by unfavourable weather and low consumer confidence"

2

Brexit, Covid, and economic uncertainty blamed as Wiggle Chain Reaction Cycles records £97 million loss

Overall revenue for the group, which was bought by German retailer Signa Sports United in 2021, also fell by 30 percent to £252 million

44

UK bike sales fall even further after dropping to lowest level in 20 years

More bad news for the bike industry as the Bicycle Association's mid-year report suggests sales have dropped again

46

Giant warns bike buyers of scam website and is working to get it removed

The bike brand said it "can't be sure that no consumer has been affected" by the scam

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Government’s Fix Your Bike scheme hailed a success in getting more people cycling – although fewer than half of the £50 vouchers issued were actually used

Findings come from independent report into initiative launched at height of coronavirus pandemic to get unused bikes back on the road

2

Ribble Cycles sees “encouraging” improvement in performance after making £5 million loss in 2022

The Preston-based bike retailer cited supply chain disruption and lead time uncertainty post-pandemic and Brexit as reasons behind its "challenging" year, and has restructured while taking on additional funding from investors

1

Shimano bike component sales fall by 18% as company cites “weak” demand for products

The Japanese brand’s profit is also down by 40%, following a record year in 2022

45

“If you voted for Brexit, please realise this is 90% because of your decision”: UK cycle distributor FLi ceases trading

“I’m done with the red tape and the barriers to trade,” FLi Distribution’s director Colin Williams said

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Halfords remains “very, very confident” about cycling market, despite overall annual profits falling by 55 percent

“Cycling still hits the sweet spot in terms of climate change… We still think it’s the right place to be,” says the retailer’s chief executive Graham Stapleton

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Evans Cycles reports losses of £5.2 million

Director Adedotun Adegoke says management still believes the company "performed strongly" and pointed to "well-publicised supply chain issues"

15

“Future of Planet X secured” as cycling retailer sold following fears for its future

The jobs of all 33 employees at the Rotherham-based retailer have been secured following its sale according to Planet X

7

Pinarello set to be sold to South African mining billionaire, reports suggest

Former Glencore CEO Ivan Glasenberg is in the final stages of acquiring an 80 percent stake in the iconic Italian brand, according to sources close to the company

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