Retail

Evans Cycles blames “supply chain issues” for £22.8m loss, as 70% sale sees bike prices slashed online

The accounts are for the financial year before the purchase of Wiggle Chain Reaction and suggest Evans was hit hard during the bike industry's struggles, the loss significantly worse than the £5m reported a year earlier

Former Ineos Grenadiers boss Fran Millar joins Rapha as CEO in “significant milestone” for British brand

Millar’s appointment comes three months after the company closed its US office, amid annual losses of £12 million, while her exit from the Ineos group was announced less than a week after Dan Bigham criticised the British team’s “lack of clarity”

Shimano sales fall by 21% in first half of 2024 – but components giant says key European market remains “firm” despite serious delivery problems

While the latest report is more positive than the company’s previous forecast, Shimano says “the outlook will remain uncertain” due to high inventory levels and unfavourable weather conditions

Raleigh uncertainty eased as bicycle manufacturer’s warning notice discontinued by Companies House

Late financial accounts meant the iconic bike brand — which has made redundancies in recent times — risked being struck off the register, a late filing that has seemingly been addressed as parent company Accell took the blame

Islabikes launches spare parts website, as founder returns as “100%” owner “motivated by idea of keeping all Islabikes we sold over 18 years in circulation”

"Every time I pack a part and send it out I enjoy the thought that it is keeping a bike in use," returning owner Isla Rowntree commented, nine months on from the much-loved children's bike manufacturer ceasing production

Pragmasis to wind down production of bike locks after “finding times hard” amid Brexit, Covid and “cost-of-living crisis combined with Ukraine situation”

Company founder Steve Briggs reported the business has been struggling "for a long time" and welcomed further applications from "established businesses" over "possible licensing opportunities" to keep the well-respected locks in production beyond October

“This winter we will see more businesses go bust for sure”: Brompton boss warns bike industry woes not over yet

Will Butler-Adams said manufacturers and retailers remain at risk, the folding bike brand bucking the industry trend and posting profits up a third in its most recent financial report

Shimano hit by delivery problems across Europe as brand admits “serious” logistical challenges, longer lead times and “lower service quality”

Issues concern warehousing and distribution which Shimano outsourced to Kuehne + Nagel last year, the components giant not holding back when identifying "problems" and the need for the logistics provider to "improve service levels"

Bike industry “ripe” for smart investment ahead of “significant” recovery from 2026, focusing on strong branding, e-bikes, and manufacturing a “higher share of the bike”, new research claims

“After a turbulent few years, the bike industry is set to stabilise and make a gradual recovery, with significant upside in the medium to long term”

Bikes in plastic, it’s fantastic… plus convert regular shoes into cycling shoes with these nifty cleat adapters, pedalling in squares on Elite’s curious smart trainer, Lazer’s new smart helmets + loads more from Eurobike 2024

We've trawled the halls of Eurobike in Frankfurt to bring you news of some of the best new cycling tech around right now in this special edition of Tech of the Week

Giant bids to buy assets of bankrupt power meter brand Stages for $20 million

In April, Giant sued Stages Cycling over £11 million worth of unpaid invoices and already manufactured products valued at £5.4 million, four top executives moving from the shut down US power meter brand to the bicycle manufacturer

I can’t believe it’s not carbon, awesome integration and a subtle Shand rebrand: Five Cool Things from Bespoked Handmade Bike Show 2024

We dived right into Bespoked at Victoria Baths in Manchester over the weekend and spied plenty of intricate, intriguing and unique bike tech. Here is a cool quintet of highlights

Bike industry told to “survive until 2025” as cycling market report says overstock issues “might be resolved” next year

The report also found that employment within the cycling industry fell by 5.5 per cent across Europe between 2022 and 2023

Mercian Cycles saved as four local businessmen confirm purchase of iconic bike manufacturer following liquidation

Announcing their acquisition of the longstanding Derby-based brand, which ceased trading last month, the new owners also confirmed that the company’s craftsmen will be retained

Cycling market “significantly worse than expected”, Halfords warns — with “high-profile failure of Wiggle” and widespread sales evidence of “another year of decline”

The UK's largest cycling retailer predicted more pain is to come over the next 12 months and reported its profits had fallen as bike sales have dropped a third on pre-Covid levels

Raleigh owner Accell’s credit rating downgraded for fourth time in a year, as group’s cargo bike company slammed for “shambles” recall of faulty frames

According to Fitch Ratings, which has downgraded Accell Group’s rating to CCC-, the company’s “weak operating performance, tight liquidity, and negative free cash flow results in unsustainable credit metrics”

Mercian Cycles customers complained of “dysfunctional” service and other issues before bike manufacturer entered liquidation

Founded in 1946, the Derby-based bike manufacturer has ceased trading and entered voluntary liquidation

Evans begins 70% off sale on old Wiggle stock – as it’s revealed Frasers Group paid just £3m for struggling cycling retailer after initial deal collapsed

A private equity firm had agreed a deal last year to buy Wiggle CRC as a “going concern” but pulled out at the last minute, allowing Mike Ashley to swoop in and purchase the brand’s intellectual property rights for far below the originally reported £10m

Merida the latest bike brand to report significant slump in sales, profits down a third

Sales and profits fall at Merida, the news following fellow Taiwan-based manufacturer Giant reporting a similar slump

Mercian Cycles ceases trading and enters voluntary liquidation

The 78-year-old Derby-based bike manufacturer has appointed an agency to help with the restructuring and liquidations

Kona Bicycles bought back by founders, month after mass job cuts as former parent company abandoned struggling bike industry

Dan Gerhard and Jake Heilbron, who founded the off-road brand in 1988, say “renewing relationships” with American and European retailers and dealers “is our highest priority”, while pausing Kona’s direct-to-consumer service

“Action must follow ambition”: Decathlon calls for more support from EU politicians for policies to make cycling easier and stop bike theft

The French bike manufacturer has made calls to implement the Cycling Declaration ahead of the European Parliament elections

Brompton profits up 35% despite bike industry’s “challenging conditions” and “war of attrition” against rip-off rivals

The number of bikes sold dipped slightly but the folding bicycle manufacturer experienced significant success further afield, exports accounting for three quarters of bicycle sales and turnover from outside the UK and Europe up 46%

Giant sales down 20% and profits slashed by 38% as bike industry challenges continue

The bicycle manufacturer blamed continued inventory troubles in Europe and North America for the slump

Fake deal-laden Giro UK website a scam, warns distributor

The authentic-looking girouk.com site is ‘offering’ deals on a range of the brand’s products – but appears to be a scam aiming to collect credit card numbers

“Criminal-level abdication of duty” – Halfords slammed over non-tightened stem bolts

Bike mechanic says customer of UK’s biggest bike retailer crashed after picking up new bike because it was not set up correctly

Peloton cuts 15% of workforce “to bring spending in line with revenue” – as CEO steps down despite “optimism” beleaguered brand is “on the right path”

The American fitness company, whose sales have plummeted since the Covid pandemic, also plans to cut back its retail presence due to weak demand

BMC claims “business is back on track” despite refusal of ‘short-time working compensation’ and more staff reportedly leaving the business

The Swiss bike brand had an application for local government to pick up some of the tab for its worker’s salaries refused, but says this was “all hot air” and is now hiring again, while also positioning itself as a brand with “no entry level bikes”

Auction for bike shop stock worth £500,000, including Shimano, Specialized, Trek, Cannondale and Campagnolo products

Bidding closes next week, the stock of major Leeds retailer Life Cycles open for offers following the company entering liquidation

Rapha makes redundancies as US office closes in “realigning” of business due to “current market dynamics”

CEO Francois Convercey said Rapha would "do everything we can to support those affected" and the move would "better reflect our strategic priorities"