Revved/GG sell off of manufacturing tools via public auction by order of the state court receivership
Holy crap, that is crazy.
It's literally the entire company minus the employees and the actual building. Raw carbon fiber and aluminum included....like they just locked the door after work one day and said "shows over".
this is a few days old, but crc/wiggle went UK-only for purchases. has to be great news for u.s.-based retailers but possibly a sting for brands...
this is a few days old, but crc/wiggle went UK-only for purchases. has to be great news for u.s.-based retailers but possibly a sting for brands that sold a lot internationally through crc
This stinks for NZ, This now locks us out of vitus and nukeproof products and some hope parts(see below)
We have a NZ nukeproof but they only hold certain stock and mostly pay and wait for a shipment... no thanks - these are also heavily marked up, Several Thousand more than crc/wiggle, That pushes nukeproof into the botique pricing... no thanks.
Hope, We do have a hope dealer but they only bring in what they want so dont have access to their brakes etc
This stinks for NZ, This now locks us out of vitus and nukeproof products and some hope parts(see below)
We have a NZ nukeproof but they...
This stinks for NZ, This now locks us out of vitus and nukeproof products and some hope parts(see below)
We have a NZ nukeproof but they only hold certain stock and mostly pay and wait for a shipment... no thanks - these are also heavily marked up, Several Thousand more than crc/wiggle, That pushes nukeproof into the botique pricing... no thanks.
Hope, We do have a hope dealer but they only bring in what they want so dont have access to their brakes etc
This stinks for NZ, This now locks us out of vitus and nukeproof products and some hope parts(see below)
We have a NZ nukeproof but they...
This stinks for NZ, This now locks us out of vitus and nukeproof products and some hope parts(see below)
We have a NZ nukeproof but they only hold certain stock and mostly pay and wait for a shipment... no thanks - these are also heavily marked up, Several Thousand more than crc/wiggle, That pushes nukeproof into the botique pricing... no thanks.
Hope, We do have a hope dealer but they only bring in what they want so dont have access to their brakes etc
anyone have insights on how healthy trek is? the newest dealer discounts look quite desperately
The info (a zesty blend of hearsay and conjecture) I have is that they have a staggering amount of excess inventory to work through, and that they're trying to get shops to book lots of stuff, but most aren't willing to do it, since they can't sell the stock they have. For shops willing to book, deep discounts on 2022 and 2023 product are available. Is Trek going under? Unlikely. They don't have a PE firm breathing down their neck, looking for inflated COVID returns.
anyone have insights on how healthy trek is? the newest dealer discounts look quite desperately
They have shut their warehouse in the Uk and downsized the headoffice (with the usual bs wall of positive noise). I've been told they're closing 10% of the Trek owned stores internationally.In the Uk they undertook a large expansion program buying up existing stores and opening new ones in some premium (expensive) locations (Poole,Battersea) in the last 3 years.
They are not alone in the Uk which seems to have been affected quite badly.
Accell (Lapierre,Haibike,Ghost, Raleigh) shut down uk operations.
Hotlines (Nukeproof,Ragley,Vitus) shut down uk operations
Cycling Sports Group (Cannondale,GT) shut down uk operations
There are a few smaller importers that have shut down completely too and there are a couple looking very shakey.
Strange times.
Earnings Before Interest, Taxes, Depreciation Amortization
Yeti's 'sale' appears to just be limited to a few builds, those with cable actuated drivetrains. Given speculation of mechanical...
Earnings Before Interest, Taxes, Depreciation Amortization
Yeti's 'sale' appears to just be limited to a few builds, those with cable actuated drivetrains. Given speculation of mechanical transmission coming, they may just be clearing out inventory of soon to be out of date drivetrains.
You couldn't have a mechanical transmisson, it would always force instant shifting where as transmission is slightly delayed to only shift when ready.
That's not how T works. The T derailleur reacts instantly but the chain doesn't change over until it hits the correct teeth on the cassette, which is where the delay comes from.
This wouldn't change with a cable operated Transmission.
They have shut their warehouse in the Uk and downsized the headoffice (with the usual bs wall of positive noise). I've been told they're closing 10%...
They have shut their warehouse in the Uk and downsized the headoffice (with the usual bs wall of positive noise). I've been told they're closing 10% of the Trek owned stores internationally.In the Uk they undertook a large expansion program buying up existing stores and opening new ones in some premium (expensive) locations (Poole,Battersea) in the last 3 years.
They are not alone in the Uk which seems to have been affected quite badly.
Accell (Lapierre,Haibike,Ghost, Raleigh) shut down uk operations.
Hotlines (Nukeproof,Ragley,Vitus) shut down uk operations
Cycling Sports Group (Cannondale,GT) shut down uk operations
There are a few smaller importers that have shut down completely too and there are a couple looking very shakey.
Strange times.
They sold the UK warehouse to RedBull for £££££££ to allow them to build the new F1 wind tunnel next to the factory. I imagine this helped a lot with the decision not to relocate it and close it totally.
anyone have insights on how healthy trek is? the newest dealer discounts look quite desperately
I know two of the three stores that got bought up and flipped into Trek stores around me are failing miserably. The largest store they bought is doing 30% of what the previous owners had it doing due to the fact there is no longer choice. The prior store had Trek, Giant, Pinarello, Pivot and Cervelo, among carrying your usual variety of tires and accessories from QBP and the like. They also cycle through employees at an alarming rate because of low wages and from what I understand to be ridiculous expectations of their employees and heavy pushing of drinking the Trek Kool-Aid.
I know two of the three stores that got bought up and flipped into Trek stores around me are failing miserably. The largest store they bought...
I know two of the three stores that got bought up and flipped into Trek stores around me are failing miserably. The largest store they bought is doing 30% of what the previous owners had it doing due to the fact there is no longer choice. The prior store had Trek, Giant, Pinarello, Pivot and Cervelo, among carrying your usual variety of tires and accessories from QBP and the like. They also cycle through employees at an alarming rate because of low wages and from what I understand to be ridiculous expectations of their employees and heavy pushing of drinking the Trek Kool-Aid.
Trek did the same strategy in Australia.
They bought quite a few stores and rebranded them to Trek stores, and obviously got rid of the other brands, this sparked a huge war with Giant, who then fought back and yada yada.
Has anyone noticed that Joystick components looked to have shut down too? I've been running Joystick parts since 2015 and love their products. I'm building a new bike up and noticed that I couldn't order their parts direct or find them on online stores that sold them prior. One season their supporting the Specialized factory DH team. The next season, their gone...... Unfortunately, I don't think it's over just yet. Especially with all these race teams pulling out. I'm willing to bet Greg Minnaar leaving Santa Cruz has something to do with Santa Cruz cutting back. I still remember Greg telling Rob Warner that I wanted to retire with Santa Cruz. Not trying to start rumors. Just an assumption.
Everything already went to auction, saw some words on NSMB stating they use to sell a lot of stuff to CRC. Has this been talked about? I feel like a lot of the sites are missing this stuff.
Kona just went bogo on all process models which is quite interesting move.
Sounded too absurd to be true until I looked at Kona's website. They must be really desperate to unload old inventory. There were supposed to be new frames coming this year, but I'd heard they were pulling back from that plan along with all the other cost-cutting. Maybe they really do have new frames on the way and need to clear out the warehouse? Whatever the specific reason, it's bizarre to see models launched just a couple months ago included in a BOGO sale.
I don't want to go down the rabbit hole into IBD politics... but Kona's been changing the rules of the game at will with their IBD's and not for the better. My LBS has been a long standing kona dealer since 98' - 00' ish. They have been a proponent of their bikes since the beginning and there were periods where basically, everyone that worked there and was a die hard of the shop was on either a process, heihei or honzo in the glory days of the gen 1, 153/111. They have had to pull back from Kona as a go to brand due to the shifting landscape and it seems like that relationship is going to be phased out going forward.
It's a real bummer to see the soul of kona go to the wayside. They've been seemingly exiting themselves out of the equation for about 5-6 years now through bike design, relationship management and pricing... this seems like the inevitable end.
Kona BOGO came up during the conga line climbs at a popular trail head this weekend. Rumor has it (from a Kona bike shop owner) Kona has an entire order of frames sitting in Taiwan that are locked up awaiting for payment before being released. The BOGO move is an attempt to get the cash flow needed to release those frame from the manufacture.
Based on the size limitations on their website now.. Id say they are selling a few.
I am pretty uneducated in this regard, so can someone please tell me what ”going into administration” actually means for a company? Is it kinda like: ”you don't seem to be able to take care of your kids anymore, so we chose someone who can take care of them for you, until you are fit again”?
I am pretty uneducated in this regard, so can someone please tell me what ”going into administration” actually means for a company? Is it kinda like...
I am pretty uneducated in this regard, so can someone please tell me what ”going into administration” actually means for a company? Is it kinda like: ”you don't seem to be able to take care of your kids anymore, so we chose someone who can take care of them for you, until you are fit again”?
Thanks,
Mx
Pretty much. A third party (licensed insolvency expert) will come in and either restructure the business and make debt arrangements, while putting creditors on hold for a set period to try and get the company back up and running, or sell off assets to pay creditors and liquidate the business.
To Whom It May Concern
In response to current speculation regarding the position of Orange Bikes and the recently filed Notice of Intention to appoint Administrators:
Orange Bikes and its associated companies are currently working with Specialist Business Rescue Advisory firm J9 Advisory, with a view to restructuring the businesses in order to provide a viable platform to service our customers in the best way possible, safeguarding jobs and ensuring the continuation and strength of the Orange Bikes business moving forwards.
Further details will be released as soon as possible.
I put together a (certainly incomplete) list of MTB manufacturers who make at least one legit MTB model. I am at 103. That is wayyyyyyyy too many slices of pie. It's no wonder so many won't survive.
Here's the list. What companies am I missing (some are closing down currently)
I put together a (certainly incomplete) list of MTB manufacturers who make at least one legit MTB model. I am at 103. That is wayyyyyyyy too...
I put together a (certainly incomplete) list of MTB manufacturers who make at least one legit MTB model. I am at 103. That is wayyyyyyyy too many slices of pie. It's no wonder so many won't survive.
Here's the list. What companies am I missing (some are closing down currently)
You could add Surly and Fairdale (dirt jumper available and AMHT coming) as well.
There are also (dare I say) dozens more 'custom' or small batch individual frame builders who will make you an awesome mountain bike. A few that spring to mind:
Do you remember when it was impossible to get a mountain bike with decent spec? You used to plan to spend 50% more on replacing tires, grips, brakes, bars, stem, adding a chainguide and single ring, dropper post, etc. More than 103 companies making a legit model is bananas.
Holy crap, that is crazy.
It's literally the entire company minus the employees and the actual building. Raw carbon fiber and aluminum included....like they just locked the door after work one day and said "shows over".
Kind of eerie.
noticed at the bottom of the page that rim and frame manufacturing/patents are for sale too.
so many neat tools/items in there, but such a bummer to see.
Such a waste of so much hard work and so many good ideas. And people. BOOOOOO!!!
This stinks for NZ, This now locks us out of vitus and nukeproof products and some hope parts(see below)
We have a NZ nukeproof but they only hold certain stock and mostly pay and wait for a shipment... no thanks - these are also heavily marked up, Several Thousand more than crc/wiggle, That pushes nukeproof into the botique pricing... no thanks.
Hope, We do have a hope dealer but they only bring in what they want so dont have access to their brakes etc
Rough. Santa Cruz get cheaper lately?
bronson frame only, 7.7k........ based on other brands here, thats absurd pricing.
anyone have insights on how healthy trek is? the newest dealer discounts look quite desperately
The info (a zesty blend of hearsay and conjecture) I have is that they have a staggering amount of excess inventory to work through, and that they're trying to get shops to book lots of stuff, but most aren't willing to do it, since they can't sell the stock they have. For shops willing to book, deep discounts on 2022 and 2023 product are available. Is Trek going under? Unlikely. They don't have a PE firm breathing down their neck, looking for inflated COVID returns.
They have shut their warehouse in the Uk and downsized the headoffice (with the usual bs wall of positive noise). I've been told they're closing 10% of the Trek owned stores internationally.In the Uk they undertook a large expansion program buying up existing stores and opening new ones in some premium (expensive) locations (Poole,Battersea) in the last 3 years.
They are not alone in the Uk which seems to have been affected quite badly.
Accell (Lapierre,Haibike,Ghost, Raleigh) shut down uk operations.
Hotlines (Nukeproof,Ragley,Vitus) shut down uk operations
Cycling Sports Group (Cannondale,GT) shut down uk operations
There are a few smaller importers that have shut down completely too and there are a couple looking very shakey.
Strange times.
That's not how T works. The T derailleur reacts instantly but the chain doesn't change over until it hits the correct teeth on the cassette, which is where the delay comes from.
This wouldn't change with a cable operated Transmission.
They sold the UK warehouse to RedBull for £££££££ to allow them to build the new F1 wind tunnel next to the factory. I imagine this helped a lot with the decision not to relocate it and close it totally.
I know two of the three stores that got bought up and flipped into Trek stores around me are failing miserably. The largest store they bought is doing 30% of what the previous owners had it doing due to the fact there is no longer choice. The prior store had Trek, Giant, Pinarello, Pivot and Cervelo, among carrying your usual variety of tires and accessories from QBP and the like. They also cycle through employees at an alarming rate because of low wages and from what I understand to be ridiculous expectations of their employees and heavy pushing of drinking the Trek Kool-Aid.
Trek did the same strategy in Australia.
They bought quite a few stores and rebranded them to Trek stores, and obviously got rid of the other brands, this sparked a huge war with Giant, who then fought back and yada yada.
Its not going very well for Trek down here now.
Has anyone noticed that Joystick components looked to have shut down too? I've been running Joystick parts since 2015 and love their products. I'm building a new bike up and noticed that I couldn't order their parts direct or find them on online stores that sold them prior. One season their supporting the Specialized factory DH team. The next season, their gone...... Unfortunately, I don't think it's over just yet. Especially with all these race teams pulling out. I'm willing to bet Greg Minnaar leaving Santa Cruz has something to do with Santa Cruz cutting back. I still remember Greg telling Rob Warner that I wanted to retire with Santa Cruz. Not trying to start rumors. Just an assumption.
Looks like Planet Cyclery will have a sale next week of the Nukeproof and Vitus bikes.
Blackspire???
Website doesn't look good.
Yep...
https://bid.ableauctions.ca/BIKE-ON-LINE-AUCTION_as94491_p10
Everything already went to auction, saw some words on NSMB stating they use to sell a lot of stuff to CRC. Has this been talked about? I feel like a lot of the sites are missing this stuff.
Kona just went bogo on all process models which is quite interesting move.
Sounded too absurd to be true until I looked at Kona's website. They must be really desperate to unload old inventory. There were supposed to be new frames coming this year, but I'd heard they were pulling back from that plan along with all the other cost-cutting. Maybe they really do have new frames on the way and need to clear out the warehouse? Whatever the specific reason, it's bizarre to see models launched just a couple months ago included in a BOGO sale.
I don't want to go down the rabbit hole into IBD politics... but Kona's been changing the rules of the game at will with their IBD's and not for the better. My LBS has been a long standing kona dealer since 98' - 00' ish. They have been a proponent of their bikes since the beginning and there were periods where basically, everyone that worked there and was a die hard of the shop was on either a process, heihei or honzo in the glory days of the gen 1, 153/111. They have had to pull back from Kona as a go to brand due to the shifting landscape and it seems like that relationship is going to be phased out going forward.
It's a real bummer to see the soul of kona go to the wayside. They've been seemingly exiting themselves out of the equation for about 5-6 years now through bike design, relationship management and pricing... this seems like the inevitable end.
Kona BOGO came up during the conga line climbs at a popular trail head this weekend. Rumor has it (from a Kona bike shop owner) Kona has an entire order of frames sitting in Taiwan that are locked up awaiting for payment before being released. The BOGO move is an attempt to get the cash flow needed to release those frame from the manufacture.
Based on the size limitations on their website now.. Id say they are selling a few.
Interesting times for sure.
Id be interested in some 29er Mainlines.
I've just seen on the tech rumours thread that Orange have gone into administration.
https://www.forbes.com/sites/carltonreid/2024/01/06/orange-mountain-bik…
I am pretty uneducated in this regard, so can someone please tell me what ”going into administration” actually means for a company? Is it kinda like: ”you don't seem to be able to take care of your kids anymore, so we chose someone who can take care of them for you, until you are fit again”?
Thanks,
Mx
Pretty much. A third party (licensed insolvency expert) will come in and either restructure the business and make debt arrangements, while putting creditors on hold for a set period to try and get the company back up and running, or sell off assets to pay creditors and liquidate the business.
Official word from Orange:
To Whom It May Concern
In response to current speculation regarding the position of Orange Bikes and the recently filed Notice of Intention to appoint Administrators:
Orange Bikes and its associated companies are currently working with Specialist Business Rescue Advisory firm J9 Advisory, with a view to restructuring the businesses in order to provide a viable platform to service our customers in the best way possible, safeguarding jobs and ensuring the continuation and strength of the Orange Bikes business moving forwards.
Further details will be released as soon as possible.
I put together a (certainly incomplete) list of MTB manufacturers who make at least one legit MTB model. I am at 103. That is wayyyyyyyy too many slices of pie. It's no wonder so many won't survive.
Here's the list. What companies am I missing (some are closing down currently)
https://docs.google.com/document/d/e/2PACX-1vS9c5gF00cIM_uuUDH66n_WAbPA…
that's awesome! and WOW...over 100 bike brands!
You could add Surly and Fairdale (dirt jumper available and AMHT coming) as well.
There are also (dare I say) dozens more 'custom' or small batch individual frame builders who will make you an awesome mountain bike. A few that spring to mind:
1. BTR
2. Mone
3. WZRD
Do you remember when it was impossible to get a mountain bike with decent spec? You used to plan to spend 50% more on replacing tires, grips, brakes, bars, stem, adding a chainguide and single ring, dropper post, etc. More than 103 companies making a legit model is bananas.
Post a reply to: Will more companies be shutting down in the next 12-24 months?