Insolvency activity in the South East saw a slight reduction during September following a big increase in August, and remains only slightly higher than the same period last year. According to R3, the UKs insolvency and restructuring trade body, the figures showed a decrease in insolvency-related activities from 264 in August to 219 in September.…
Its been revealed that a building company that collapsed earlier this year had just $17.80 left in its bank account. In July, news.com.au reported that Melbourne-based bespoke building company Avra Group (Aust) Pty Ltd had entered into liquidation. A report prepared by Philip Newman of insolvency firm PCI Partners, the appointed liquidator, showed that the…
Wiggle could face insolvency following its owner Signa Holding has withdrawn funds from the division that owns the bikes etailer. According to CyclingNews, Wiggle has stopped paying suppliers, cancelled orders and is not receiving goods until further notice. Last Monday, Signa which co-owns Selfridges ended an 130m funding commitment to its sports division Signa Sports…
The British eCommerce cycling retail giant WiggleCRC has cancelled orders and stopped paying its suppliers, and is refusing to receive goods until further notice, according to a Cyclingnews source. The news comes in the wake of a tumultuous few weeks for the brand’s parent company, Signa Sports United (SSU), who first announced an “accelerated restructuring…
Oct 20, 2023, 7:57 pm EDT Rite Aid filed for bankruptcy this past week, adding to a growing list of companies going bust in 2023. By the end of September, 516 U.S. companies had declared bankruptcy, according to S&P Global, twice the 263 insolvencies in the first nine months of 2022 and just shy of…
PARK CITY, Utah (BRAIN) Signa Sports United has closed its U.S. offices, which included operations for the Vitus and Nukeproof bike brands and the Hotlines wholesale distribution business, all based in Park City. Signa, headquartered in Berlin, announced earlier this week that it had lost access to a 150 million euro ($159 million) equity commitment…
Read this article in: Tennis-Point GmbH, one of the major subsidiaries of SIGNA Sports United N.V, has filed for insolvency Other legal entities of the SIGNA Sports Group, including SIGNA Sports United N.V. as ultimate parent company of the SIGNA Sports United Group, are in the course of preparing the initiation of insolvency proceedings in…
<-rte-company state=”{“_id”:”0000018b-4d0c-d53f-a1eb-7d0dcf950000″,”_type”:”00000160-4b23-d8bd-adfd-4b3348fd0000″}”>SIGNA Sports United</-rte-company> says that its Tennis-Point unit has already filed for insolvency, according to a <-bsp-bb-link state=”{“bbDocId”:”S2TT2JBLKPOG”,”_id”:”0000018b-4d0c-d53f-a1eb-7d0dcf950002″,”_type”:”0000016b-944a-dc2b-ab6b-d57ba1cc0000″}”>filing</-bsp-bb-link>. Other legal entities of the group, including the company itself, expected to make insolvency filings in the coming days Company securities are expected to be delisted from the NYSE on Oct. 23 To contact the reporter…
Online cycle retailing giant Wiggle Chain Reaction Cycles has been telling suppliers that it will not be paying invoices and that it is cancelling orders of more stock, Cycling Weekly and CyclingNews have learned. This afternoon, Wiggle’s parent company Signa Sports United (SSU) put out a statement saying its “legal entities” were “currently in the…
Email tells partners of intension to file for insolvency as parent company suffers severe liquidity and profitability challenges This competition is now closed By Stan Portus Published: October 20, 2023 at 10:30 am Uncertainty surrounds the future of Wiggle Chain Reaction after its business partners were sent an email, seen by BikeRadar, stating the company…