Cycling industry holds its breath as Wiggle Chain Reaction's collapse accelerates
Since the financial division of Signa Sports United, the business group that brings together the shops Wiggle Chain Reaction, Bikester, Fahrrad, Probike and Bikeshop among others, announced that it was ceasing its operations with this sports giant, the news has been constant and none of it is promising anything good. This morning Wiggle Chain Reaction confirmed that it was going into administration.
Wiggle Chain Reaction goes into administration and the cycling industry fears a possible backlash
This morning, UK-based Wiggle issued a statement confirming that the company had lost administrative control and was being managed by a third party specialist in corporate restructuring and consultancy. But it reassured customers that "All orders made with Wiggle will continue to be delivered as usual, and our standard terms and conditions still apply for item returns and warranty claims."
This is just another step in the collapse of Signa Sports United, based in Germany, after it filed for insolvency a few days ago and closed its US offices. Again, SSU also owns shops such as Bikester, Fahrrad, Probike or Bikeshop and brands such as Nukeproof or Vitus Bikes.
So although in principle the delicate situation of Wiggle Chain Reaction, which will affect all the brands and suppliers of one of the largest online shops, could be contained within the borders of the UK, the cycling sector remains in a tense calm as it waits to see how this situation affects an international market already affected by a generalised fall in demand.