PlanetX - calls in the administrators

[ColinJ]

It's strange, I have bought from Planet X in the past, and subscribed for their emails, yet never receive anything.

I get 1 or even sometimes 2 emails from them every day announcing incredible sales reducing the price of bikes etc to the same incredibly low prices that they were being sold at in a sale a week or two earlier!

I don’t wear bib shorts these days but I did think about buying some to use as undershorts with my baggies.

 

[Svendo]

Bibs and lid turned up. The Carnac bibs are very good for 19.99

My shorts, bottle and spray lube arrived this morning. That’s my bum covered to and from work for another couple of years!

 

[Threevok]

My shorts, bottle and spray lube arrived this morning. That’s my bum covered to and from work for another couple of years!

I'm not going ask where the bottle fits into that statement

 

[Svendo]

I'm not going ask where the bottle fits into that statement

Surprised you didn’t ask what’s the lube is for…

 

[Threevok]

Surprised you didn’t ask what’s the lube is for…

I gave you the benefit of the doubt on that one

 

[T4tomo]

presumably the lube is needle to insert the bottle?

 

[ChangFai]

Are their emails being picked up by your spam filter?

No, checked that.

Very strange, as when I bought the bike from them, I was getting all their update emails etc.

But no matter how many times I try to subscribe, nothing ever gets sent.

 

[DCLane]

PlanetX order from Wednesday arrived this morning; quicker service than before and correct. Maybe, just maybe, they're clearing stock to re-organise?

Alongside it was a Swinnerton Cycles order from two weeks ago for a Ridley part (I put another in yesterday for a second Ridley cable part) - that had three free Clif bars in

 

[Svendo]

presumably the lube is needle to insert the bottle?

I forgot to mention I also received a free mask, alas the Covid rather than gimp sort.

 

[DCLane]

An update: PlanetX has been sold to Winlong Garments, who appear to be a Rotherham-based clothing manufacturer -https://road.cc/content/news/future-planet-x-secured-cycling-retailer-sold-301801 with the purchase being funded by Baaj Capital - https://baajcapital.co.uk/

Are they who made PlanetX's bib shorts?

 

[Jameshow]

An update: PlanetX has been sold to Winlong Garments, who appear to be a Rotherham-based clothing manufacturer -https://road.cc/content/news/future-planet-x-secured-cycling-retailer-sold-301801 with the purchase being funded by Baaj Capital - https://baajcapital.co.uk/

Are they who made PlanetX's bib shorts?

I guess that was a situational acquisition!!

 

[Cycleops]

Clothing manufacturer to now include cycle retailer. Hmm, wonder how that will work out?
Imagine they'll keep on the staff who know about the technical cycle stuff.
Wish them luck.

 

[IanSmithCSE]

Good morning,

An update: PlanetX has been sold to Winlong Garments, who appear to be a Rotherham-based clothing manufacturer -https://road.cc/content/news/future-planet-x-secured-cycling-retailer-sold-301801 with the purchase being funded by Baaj Capital - https://baajcapital.co.uk/......

The only name associated with Winlong is https://find-and-update.company-inf...cers/39lSGYWWdGYz-iTGg-Iaei0jgBs/appointments

Looking at all the other companies he is a director of seems to suggest someone who understands importing and retail.

As he was able to raise funds to buy a business that at first glance appears unrelated to his other activities suggests to me that he already has a business relationship with PX and can show why the company failed and how it could be run successfully.

But is this by following the Ribble route of pretty much selling the same things as before but saying we are now a premium supplier and adding 50% to the prices? Or maybe going the other way and competing with the Halford's Carrera range?

I can't see why Private Finance would want to get involved with just one cycle shop with a very mixed internet reputation, so are we about to see Planet Xs in every major high street?

Otherwise expanding as an internet only/mainly business they run in the same problem as many of the big names in internet fashion are struggling with; The cost of product returns.

A really standout option would be actually making frames in UK, but there nothing that I can see that suggests an interest in manufacturing, so I can't see a factory being set up with autoclaves to cook PX CF frames or welders joining bits of Reynolds tubes in a labour and training intensive business.

I am interested to see if there is a new idea coming out of this sale, I am being a bit ridiculous here but something like a souped-up Kleeneze/Amway/Tupperware model, where a central warehouse supplies very independent retailers.

I also wondered if the PX/Carnac/Holdsworth brand names were worth enough to be worth buying for use with a clothing only business and there is no intention to sell bikes or bike parts. I really can see this as making sense, it is longer term plan but competing with Rapha seems much more synergetic.

Aimed at the L'Eroica market selling £200 Orange and Blue Holdsworth jerseys could be very attractive.

Bye

Ian

 

[tom73]

Yet another pre-packaged deal so effectively gone bust and left suppliers high and dry.
Free to set up a company in all but name free of debt in true venture capital style.
Effectually it's the supply and distribution side of the business they are after. It may work or it may not all depends on how quick a return it's paymaster want's on it's money.

 

[DCLane]

@IanSmithCSE - it looks to be backed by a venture capital firm picking up struggling companies who mainly specialise in clothing; i.e. Officers Club. And a clothing manufacturer/importer has bought it.

Hence my guess that they'll do clothing rather than bike parts. We'll have to wait and see.