State of the industry: a running thread

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Ok, here’s a screenshot from an email I got today.

Might not be around much over the next few days, unfortunately 5 minutes after my post yesterday my mum did pass away. The shop has been closed since Tuesday, I’m going in tomorrow morning, more to make a few calls to customers I haven’t had a chance to sort their bikes etc.


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jonnyboy666 said:
Ok, here’s a screenshot from an email I got today.

Might not be around much over the next few days, unfortunately 5 minutes after my post yesterday my mum did pass away. The shop has been closed since Tuesday, I’m going in tomorrow morning, more to make a few calls to customers I haven’t had a chance to sort their bikes etc.


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Thoughts with you Jon.
 
clubby said:
Nothing left to sell. All the stock they had has been liquidated and now for sale on Start Fitness for half original price. Can’t see them coming back from this in anything resembling current form to be honest. If that was the case I hope the name isn’t resurrected as a shallow marketing exercise.
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This aged well.
 
sinnerman said:
Well done Ashley.
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Yup, great choice of administrators. Wrote off the company with all the expensive equipment and sold it back to the debt free newco bike company for pennies, while all the companies owed money get next to nothing back.

Good point is the Orange jobs are protected for now but at the expense of how many jobs in other creditors companies? I know it’s all perfectly legal but it just doesn’t sit well with me.

What happens now anyway? They had loads of bikes they couldn’t sell even at reduced prices which are now on Start Fitness even cheaper. Who’s going to be buying their full price bikes when they do restart production?
 
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