wiggle chain reaction Archives - Cycling News | Bike Reviews

wiggle chain reaction

Wiggle administrator reveals beleaguered cycling retailer made £10.4m profit during administration

Heavy discounting and clearance promotions led to £41m in sales in the year since Wiggle entered administration, Mike Ashley's Frasers Group buying the brand's intellectual property for £3m at the start of 2024

Wiggle clearance at Evans store (credit: Arron Borson)

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

Wiggle website relaunched following Frasers Group takeover (and the old orange logo is back)

Chain Reaction Cycles and Wiggle are back open for business this morning, now a cog in Mike Ashley's retail empire

Wiggle and Chain Reaction websites to be relaunched next week, as Frasers Group aims to become the “no.1 sporting goods retailer in Europe”

Mike Ashley’s group has also acquired the rights for Wiggle’s in-house ranges, including Nukeproof, Vitus Bikes, and DhB

Wiggle and Chain Reaction websites shut, with all remaining orders to be “fulfilled within 7-10 days”

One customer managed to bag 15 cycle computers at 99p each before Wiggle and Chain Reaction’s sites were replaced by holding pages yesterday, with all remaining stock and assets set to be sold by Friday

Final clear out as Wiggle Chain Reaction Cycles invites bids for remaining warehouse stock

The retailer, which appointed a liquidator this week, has invited interested parties to enter a sales process, with “best and final offers on the stock and assets of the business” expected by 22 March

Wiggle Chain Reaction parent company appoints liquidators

Latest update comes after Mike Ashley's Frasers Group, which also owns Evans Cycles and Sports Direct, reportedly bought WiggleCRC's brand and intellectual property for less than £10 million, leading to 450 job cuts

“The assumption was Wiggle Chain Reaction wasn’t going anywhere”: Ex-employee talks “shock” at retail giant’s demise, plus THAT Visma Giro helmet discussed on the road.cc Podcast

In episode 72 of the road.cc Podcast, we go behind the scenes at Wiggle CRC to find out what really went on at the beleaguered retailer over the last few gloomy months, while Jamie and Ryan dissect pro cycling’s latest controversy: ugly time trial helmets

Mike Ashley’s Frasers Group reportedly buys Wiggle Chain Reaction Cycles for less than £10 million

Frasers Group, which also owns Evans Cycles and Sports Direct, has agreed to purchase WiggleCRC’s brand and intellectual property, leading to around 450 job cuts

Mike Ashley set to take over Wiggle Chain Reaction as administrators “close the shutters” amid mass redundancies, sources suggest

The latest job cuts at the beleaguered online giant mean that “almost everyone is gone”, former employees have posted online, as Evans Cycles owner Ashley prepares takeover