![]() Wiggle entered administration in the weeks of heavy retail activity leading up to the Black Friday sales and Christmas shopping period, something which is reflected in the report, administrators saying trading had been "very positive during the administration process" with a "considerable trading profit achieved". The administrator's proposal notes that it was agreed following consultation with management "that the best course of action was to continue to trade the business while a buyer was sought." However, the industry source says they are aware of other brands who have not yet been paid. Speaking from their role at a company who had been paid in full, they pointed out the administrator's statement also only notes the debts owed when Wiggle entered administration in October, not as of mid-December when the report was published - for example, 's own parent company Farrelly Atkinson Ltd is listed as being owed £720, that the company understands has now been paid. Also at the top end of the scale are Taiwan-based manufacturer Ideal Bike Corporation, listed as being owed £1,291,050, Garmin Europe Limited (£853,762), Saddleback (£815,082), Science in Sport (£662,558), POC Sweden (£507,968), Selle Italia (£400,922), Endura (£387,329), and Vittoria (£208,920).įrom speaking to figures within the bike industry understands some debts have been paid in full since Wiggle entered administration, while other brands may in fact be owed less than the stated figure due to contractual factors.īritish-based brands such as Raleigh (£235,781) and Muc-Off (£99,647) are also listed as being owed the aforementioned debts.Īn industry source also suggested the scale of Wiggle's business means the company may "not be necessarily that far behind, it could be a monthly turnover that they have not paid once, and that is half a million pounds to some of these companies". 2023.Haribo is listed as being owed £20,275 by WiggleCRC, but did not respond to a request for comment, while major UK distributors Madison and Extra UK LTD are listed as due £1,095,272 and £925,614 respectively. VAT No: GB 884 2571 94 | Company No: 02667809 © Wiggle Ltd (In Administration). The Joint Administrators act as agents of the Company and without personal liability. Registered address: C/O A&L Goodbody Northern Ireland Llp, 42-46 Fountain Street, Belfast, BT1 5EFįollowing the making of the Administration Order on 30 October 2023, the affairs, business and property of the Company are being managed by the appointed Joint Administrators Anthony John Wright and Paul David Allen. ![]() See product terms for more details.Ĭhain Reaction Cycles Limited (In Administration) Use may affect your credit score or make credit less accessible or more expensive for you. Pay in 3 is a form of credit, may not be suitable for everyone. ![]() Pay in 3 eligibility is subject to status and approval. PayPal Pay in 3: PayPal Pay in 3 is not regulated by the Financial Conduct Authority. Credit subject to status, UK residents only, Wiggle Ltd (In Administration) acts as a broker and offers finance from a restricted range of finance providers. PayPal Credit: Terms and conditions apply. Whittaker House, Whittaker Avenue, Richmond-Upon-Thames, Surrey, United Kingdom, TW9 1EH. PayPal Credit and PayPal Pay in 3 are trading names of PayPal UK Ltd.
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