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?