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The sale process is expected to gather pace rapidly, as Hotlines, also owned by WiggleCRC’s parent company, has also entered administration
"As the leading cycling retailers, we have a responsibility to support the whole market"
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
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
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”
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
As rumours swirl that Wiggle Chain Reaction has stopped paying its suppliers, we break down what's happening with bike industry stalwart Rory Hitchens
