Wiggle goes into administration

https://www.cyclingnews.com/news/wiggle ... 8IqsFHPCGk

Wow I'm glad my karoo 2 arrived yesterday
Edit.. very selfish that doh.. feel sorry for all the staff

I also read online that Isla Bikes had ceased production... such a shame
https://www.islabikes.co.uk/pages/cease-of-sale

Placed a £200 order last night.....mhmhm that's going to be fun

petemaz wrote: ↑Fri Oct 27, 2023 10:19 am I also read online that Isla Bikes had ceased production... such a shame
https://www.islabikes.co.uk/pages/cease-of-sale

Yeah, this is the one that hurst the most. Bought multiple Islabikes for both the kids, fantastic things. Shame others wont get to experience them now...

As for Wiggle, surprised it didn't happen last week. So how long till the Mike Ashley has bought them announcement...?

petemaz wrote: ↑Fri Oct 27, 2023 10:19 am I also read online that Isla Bikes had ceased production... such a shame
https://www.islabikes.co.uk/pages/cease-of-sale

Hadn't heard that - even for someone with no kids, that seems sad. Perhaps a sign that kids bikes in general have improved though, to look at it from a more positive angle.

Wiggle has been known about for a while, and as it's in administration and not insolvency (yet!?) then it is still trading. But worthwhile paying with a CC for some protection, and some warranty items might not be worth it, if it does go under.

Islabikes is a real shame, i've not got one yet, but was thinking about it for my eldest. They really have shaped the kids bike market. It's also to their credit that they're winding down the business with no creditors, and will honour warranties. Shame for the staff of all involved of course.

So how long till the Mike Ashley has bought them announcement

Probably just buy the brands rather than everything.
Did some of them( investors) just get over excited during lockdown and think the cycling boom would last ?

Islabikes is a real shame, i've not got one yet, but was thinking about it for my eldest. They really have shaped the kids bike market. It's also to their credit that they're winding down the business with no creditors, and will honour warranties. Shame for the staff of all involved of course.

Did they try and sell? Seems odd to wind down and close even with the issues in the industry

Frog and Hoy caught up pretty quickly but the brand was strong as were resale values

riderdown wrote: ↑Fri Oct 27, 2023 12:41 pm

Islabikes is a real shame, i've not got one yet, but was thinking about it for my eldest. They really have shaped the kids bike market. It's also to their credit that they're winding down the business with no creditors, and will honour warranties. Shame for the staff of all involved of course.

Did they try and sell? Seems odd to wind down and close even with the issues in the industry

Frog and Hoy caught up pretty quickly but the brand was strong as were resale values

As a Ludlow brand it is a real shame... I guess she saw a requirement and filled it, proved there was a market for good kids bikes and forced the major brands to improve. Job done ?

I see Isla about town ... often doing deliveries for our local Organic shop on a cargo bike. Maybe her life has simply moved on.

Very sad to hear about both. Wiggle (and CRC before they were bought) were the source of a huge amount of my cycling "stuff" since I started back in the 1990s.

My kids have had Isla bikes all the way through and many have gone on to mates kids. I was a convert to them after the first balance bike (with no brake - a mental experience for a first time dad to see his 3 year old whizzing away ) and always rated their ethos of the right size and weight for kids. Shame but sounds like they're wrapping it up in a really positive, commendable way

godivatrailrider wrote: ↑Fri Oct 27, 2023 2:18 pm I see Isla about town ... often doing deliveries for our local Organic shop on a cargo bike. Maybe her life has simply moved on.

Isla herself stepped back/handed things over a while back.

If I recall correctly from hearing figures discussed, the kids bike market has been even worse hit than other areas post-covid.

Isla sold most of it a couple of years ago, I don’t know if she kept a minority stake.

PaulB2 wrote: ↑Fri Oct 27, 2023 6:41 pm Isla sold most of it a couple of years ago, I don’t know if she kept a minority stake.

There's a piece on the BBC about her - https://www.bbc.co.uk/news/uk-england-s ... e-67237686 looks like she sold a majority stake to Tim Goodall but kept the rest.

riderdown wrote: ↑Fri Oct 27, 2023 12:41 pm
Did they try and sell? Seems odd to wind down and close even with the issues in the industry

Interesting link on STW. Both Isla & Tim are Quakers and as such aren't out to extract every last penny from the business.

Also, they aren't closing are they, just not making more bikes and will continue to honour warranties and supply spares?

Maybe just biding their time until the market improves?

As mentioned above though, their USP isn't a USP anymore, buying a decent kids bike isn't the mission it used to be.

Lazarus wrote: ↑Fri Oct 27, 2023 11:47 am Did some of them( investors) just get over excited during lockdown and think the cycling boom would last ?

Shady property dealings?
https://www.founderstoday.news/rene-ben ... roversies/