bikeworkshop
Senior Retro Guru
Gt85 contains Teflon, a "forever chemical" so you can safely call up Greta and she will bring a posse to save your bike!
I’d a look through the administration report and the only people paid in the administration are the bank, presumably from sale of the property. I doubt some all of the smaller companies had that kind of cover and they are ones that even smaller sums can hurt. I’m looking at £1200 in advertising to the guys at Misspent Summers as an example.
HMRC were owed £170k.
Uncle Steve is out £900k! Hopefully new Orange thrive and he gets some repayment, but the truth is legally that debt is wiped out.
In fairness, Ash was also owed £350k that he put into the company.
The saddest part for me is they were listed as having £3.5 million in stock, that was sold for £350,000.
If this is true (need to fact-check!) then this is a sorry state of affairs and that last point, a brilliantly awful example of just how mental the (state of) industry is.
Some interesting perspectives in those podcasts. What I still can't get my head around is the whole marketing train of thought that there could be strong demand for very expensive bikes in the first place, let alone year on year sustainable demand for very expensive bikes. What train of thought lead to the normalising of £5k bikes within the big brands?Getting back on topic, has anyone listened to these?
https://escapecollective.com/how-did-the-bike-industry-get-into-such-deep-trouble/
The policy is called: Consumerism. %age profit of a large number is so much more lucrative than the same %age of a small number.Some interesting perspectives in those podcasts. What I still can't get my head around is the whole marketing train of thought that there could be strong demand for very expensive bikes in the first place, let alone year on year sustainable demand for very expensive bikes. What train of thought lead to the normalising of £5k bikes within the big brands?