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Chain Reaction, Wiggle and Nukeproof close to closure

The world is constantly changing: 2024 will be a tough year for many physical stores. But online is no different either.

Wiggle and chain

René Benko, investor of the Signa Group, has abandoned Signa Sports United (SSU) with the withdrawal of a commitment for a liquidity loan of 150 million euros!

This company includes 80 online stores, including:
Bikester.com
Chainreactioncycles.com
Bicycle.de
Probikeshop.com
Votec.de
Wiggle.com (which also includes Nukeproof and Vitus)

René Benko took advantage, as a pure businessman, of the post-Covid bike bubble. He now returns to other businesses. How beautiful is the business market in the Western world.

NUKEPROOF

nukeproof
Nukeproof also in the cauldron

Nukeproof and Vitus are also insolvent. Athletes like Kyle Strait and DJ Brandt have stopped sponsoring Vitus and Nukeproof. Wiggle and CRC announced yesterday that they had blocked all orders.

SIGNA SPORTS UNITED NV

Note that since the listing on the stock exchange at the end of 2021, Signa Sports' stock has collapsed to the point of being worth almost nothing. In practice, the capitalization dropped from 3,6 billion to 8 million dollars. In mid-October it was taken off the market.

signa sports united bag


Written by

[email protected] I am a fan of everything that has 2 wheels: at a young age I practiced road and track cycling (Italian Allievi champion). At the age of 18 I passed into the cross country competing at national/international level as an Under23. Past Elite, I made the choice to take things more lightly from a training point of view, and my love for gravity disciplines was born, training me as an FCI MTB instructor and guide. Now I have made passion my profession by managing 2 MTB centers on the island of Elba (Bike Center Elba and Elba MTB), creating the FANTAmtb and telling in an ironic but professional way everything that revolves around MTB thanks to 365mountainbike and 365TV (YouTube'PULITI dentro BIKER fuori').

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