Online cycle business with huge Bilston warehouse and 450 staff is on the market
Online cycling and sports retailer WiggleCRC has been officially put up for sale.
Wiggle, which has its head office at Portsmouth and a huge warehouse on the Black Country New Road at Bilston, appointed Anthony Wright and Alastair Massey from FRP Advisory as administrators on October 24.
The joint administrators have now launched a sales process for the online group, which employs 450 staff, and have already received considerable interest about taking the business forward.
Administrators have also been appointed to Chain Reaction Cycles, Chain Reaction Cycles Retail and Hotlines Europe.
The business and its brands remain fully operational and continue to trade. Orders placed online continue to be delivered as usual, as well as online returns in line with terms and conditions. All warranties remain in place.
Mr Massey, a partner at FRP, said: “We’ve officially launched our sales process for WiggleCRC. This is one of the market’s best-known stable of brands and has solid fundamentals and further growth potential. In the few weeks we’ve been in office, we’ve seen strong trading continue thanks to a loyal and extensive customer base.
"This is why there has been considerable interest already in the business and we expect the sale process to gather pace rapidly. Any remaining potential buyers should come forward now and express their interest.”
Wiggle's 320,000 sq ft warehouse at Bilston opened in 2015 creating an initial 150 jobs.
Mr Massey and Mr Wright from the specialist business advisory firm have also been appointed to Mapil Midco 1, another company within the Wiggle group.
WiggleCRC was formed in 2017 following the merger of Wiggle and Chain Reaction Cycles. It was later acquired by Signa Sports United in 2021 and now operates a stable of brands across the cycling, triathlon, running and outdoor adventure gear markets, including Wiggle, Chain Reaction Cycles, Vitus, Nukeproof and Hotlines.
The appointment of the administrators and sale process came after the company lost its financial support through its parent company Signa Sports United.
