Threevok
Growing old disgracefully
- Location
- South Wales
Oops, my mistake, I meant Enduro
PlanetX - calls in the administrators
- Thread starter DCLane
- Start date
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Oops, my mistake, I meant Enduro
Dogtrousers
Kilometre nibbler
This is true. I've never actually used them so I won't miss them directly but it's still a shame.
figbat
Slippery scientist
- Location
- South Oxfordshire, UK
Really? I thought it was a notice that administration was being sought, not actual appointment of an administrator.
Supersuperleeds
Legendary Member
- Location
- Leicester
Apologies, I thought the administrator had been appointed already.
bonzobanana
Guru
While looking around I noticed a news report that Planet X had become staff owned and the original owners had been bought out and there was a multi-million loan through Santander possibly used to pay for the buyout in 2020 at the peak of the cycling boom I think. This is a similar story to Moore and Large. Sold at peak value to the benefit of the original owners but placing a huge amount of debt on the business which is very difficult to deal with after a downturn. A sort of leveraged buyout. I wonder how well it was managed when staff owned. Sometimes that can cause business direction issues.
Many of the news reports are stating Brexit as a cause but there has been a huge amount of redundancies across the US and Europe in the bike industry after the post covid downturn and as stated above both businesses were loaded with debt when ownership changed.
Many of the news reports are stating Brexit as a cause but there has been a huge amount of redundancies across the US and Europe in the bike industry after the post covid downturn and as stated above both businesses were loaded with debt when ownership changed.
Fastpedaller
Über Member
Do they sell bar grips for hands with crossed fingers?
Fastpedaller
Über Member
I've an On-One Pompino and I rate it very highly. Aside from some duff tyres which I was accused of storing incorrectly - maybe in the few minutes it took me to fit them? and then it was a case of the heat I caused by riding too fast (I wish 
), I've found PX to be good.
Maybe Mr Loughran is around the corner ready to re-purchase?
), I've found PX to be good.Maybe Mr Loughran is around the corner ready to re-purchase?
Cycleops
Legendary Member
- Location
- Accra, Ghana
No wonder they are going bust
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Pale Rider
Legendary Member
Ashley appears to be an unpleasant individual, but he is an alchemist in terms of retail.
He appears to be the only businessman who can still make good money from bricks and mortar, as well as online.
Every reason to expect Planet X under Ashley would go in the same profitable direction.
I'm looking at it from the odious individual point of view as apposed to business sense.
Cycleops
Legendary Member
- Location
- Accra, Ghana
A job under an odious boss is still a job and if you don't like the new regime it gives you time to look for a new one.
Don't forget they are not yet in administration. This is the current situation:
As per Companies House(link is external), dated 6 June, a First Gazette Notice has been filed, stating: "The Registrar of Companies gives notice that, unless cause is shown to the contrary, the Company will be struck off the register and dissolved not less than 2 months from the date shown above.
"Upon the Company's dissolution, all property and rights vested in, or held in trust for, the Company are deemed to be bona vacantia, and will belong to the Crown."
Don't forget they are not yet in administration. This is the current situation:
As per Companies House(link is external), dated 6 June, a First Gazette Notice has been filed, stating: "The Registrar of Companies gives notice that, unless cause is shown to the contrary, the Company will be struck off the register and dissolved not less than 2 months from the date shown above.
"Upon the Company's dissolution, all property and rights vested in, or held in trust for, the Company are deemed to be bona vacantia, and will belong to the Crown."
FishFright
More wheels than sense
Not good !
kingrollo
Guru
Shame - They did some ground breaking deals imo - brought budget carbon wheels to an affordable level without going the Chinese route.
Doesn't seem many budget bike available these days - Ribble have gone upmarket - although they make some fine bikes. Dolan seem a much a smaller outfit - although I am delighted with my bike from them.
Availability now seems a major factor in buying a new bike. OOS seems the new normal.
EDIT - Yes I know px wheels were probably made in china
Doesn't seem many budget bike available these days - Ribble have gone upmarket - although they make some fine bikes. Dolan seem a much a smaller outfit - although I am delighted with my bike from them.
Availability now seems a major factor in buying a new bike. OOS seems the new normal.
EDIT - Yes I know px wheels were probably made in china
Maybe, but it would end up as just another Sports Direct/Evans, selling the same stuff from pretty much the same web site just with different branding.
On a more positive note, I snapped up a couple of pairs of bib shorts from PlanetX yesterday morning (just in case) and I've had notification that they've been dispatched. I don't need them at the moment, but the ones I already have are great, so at £14.99 a pair I've future-proofed myself a bit.
